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Good point, so long as there's no EMS attack, and your cloud service doesn't ban some of your books due to government pressure. I guess you could host your own ebooks on your own server. Physical books have drawbacks too: fire, flood, storage requirements.
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And it's hard to move your millions books between continents
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I remember people collected VHS, then CD, DVD, BlueRay and eventually all these collections have come to servers. I think your kindle is a great place to collect books, cause information more valuable than things