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I do exactly this
“I tend to have a lengthy wishlist of titles and scan through them every so often and buy anything that's reduced to keep the cost down.”
Any title which gets down to £2 or under I purchase, means I have a load of books stacking up to read, but means I’ve always got something I want to read available..
I know of a few people who have been given Kindles as presents and read way more now. The convenience of always having books on tap is a large part I think.
Personally I've used ebooks for years, I used to have a palm pilot which I used for reading many years ago and now have a couple of kindles.
It's probably been a few years since I last read a physical book (other than things like cookbooks). The convenience of one-handed reading, the nightlight and being able to carry loads of books (as opposed to half a suitcase full of books) is great.
I tend to have a lengthy wishlist of titles and scan through them every so often and buy anything that's reduced to keep the cost down.