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To be honest i cannot see how it is possible to attract new authors to a model which does not protect their work. Having it freely available and relying on peoples honesty is a huge risk and i believe that it will not provide enough security for a lot of authors to take the risk in investing a year of their life to write a book.
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"Obscurity is a far greater threat to authors than piracy. –
For all of these creative artists, most laboring in obscurity, being well-enough known to be pirated would be a crowning achievement. Piracy is a kind of progressive taxation, which may shave a few percentage points off the sales of well-known artists (and I say “may” because even that point is not proven), in exchange for massive benefits to the far greater number for whom exposure may lead to increased revenues."
Technical Publisher Tim Reilly
Regarding well-known authors:
"Case in point: the Harry Potter books. When pressed as to whether Harry Potter e-books would be made available, the publisher elected not to do so, “citing security concerns.” They were afraid that an e-book version could be cracked and illicitly downloaded. “Oh, that’s too bad,” said the legions of e-book-wanting Harry Potter fans—and then they went home to their computers and downloaded the illicit version, which had been completely scanned within eleven hours of the printed book’s release. And it’s not even the first time this had happened to a Harry Potter book, either. Thus, the publisher has foregone in the name of “security” a revenue stream that, while nowhere near as large as the print version’s, would still be additional income requiring almost no additional expenditure—while still publishing its work in a version that is far, far easier to copy than a properly DRM-protected e-book could ever be."
E-books: The peer-to-peer Dichotomy by Chris Meadows.
See the full version here:
http://www.teleread.org/blog/?p=5348