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We've barely scratched the surface with cloud services, digital goods, and watermarking. No-one can predict for certain how things are going to go in the future, and what methods large-scale copyright infringers will use. I suggest that it is reasonable to think that if watermarking becomes the way of the future, and is difficult to detect and strip reliably: distributing infringers will no longer purchase their own books & strip & distribute, but will seek other sources (i.e. books purchased by other people). These people are pretty committed to 'freeing' works.
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