Leave a Kindle on a train seat while nature calls and you loose your seat and you loose the device and everything in it. Leave a book there though and it's far more likely that both will be there when you return.
Imagine reading a book in the bath and then dropping it – you can still read a paper one when it's a bit wet, but will the kindle still work when wet? Can the display cope with the humidity? A kindle might store hundreds of books, but if I drop a paper book in the bath, it's just the one which is crinkly. Not my entire collection which gets wiped out along with the expensive reader.
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