I don't know what the processor in this reader is, but the very first time I installed Linux on a computer, it was on a PC with a 486DX processor, and it ran fine - including the X system (that added about 10 floppies to the installation, though). That was pre-Linux v1; now there are plenty of low-requirement Linux distributions. Is this Nook e-reader that low in processor capabilities?
(Now, this doesn't change much to the fundamental problem: running Linux on your e-reader isn't the end goal, and it's most certainly not the best way to get familiar with Linux as a user. There's plenty of low-cost hardware nowadays that is very well suited to that - not to mention, Linux will also install pretty easily as a double boot solution on any PC. If the goal is to still use the e-reader for its intended use, but with Linux under the hood, then hardware power is still very much an issue, in tandem with selecting the appropriate reading software)
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