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So for the convenience of not having to swap disks you give up 99% of your ownership rights.

- No swapping with or lending games to friends and family.
- No selling on Ebay, no buying/selling consoles with a bunch of games
- No giving old games to friends to get them started and thus entice them to get the console too.
- Have to register every new game online before you can play.
- Have to log in every 24h to check if you are still allowed to play all your games (forget bringing the console to the cottage)
- Can only sell through approved retailers, removing all competition, and thus competitive pricing.
- New games can remain their initial price longer as the competition of second hand games is locked down.

Sounds like a fair trade.... for MS, publishers and Gamestop.