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I don't think that it would be impossible to make a one-book-per-card scheme work - just like a game cartridge. The only way for it to happen in practice, I suspect, would be for someone in a market-dominant position - like Amazon with the kindle - to introduce this as an option. As they have whispernet already, I doubt there are enough advantages for them.
In ten years' time then, what am I likely to get for my birthday? At the moment, I can guess "that's a CD", "that's a book", "that's a DVD". Will people just exchange envelopes with a 72-digit enabling code instead? "Oh, another code - that's nice".
I think I'd prefer socks.
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