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The problem with Wordpress -vs- Blogger for me is that you can't use any affiliates on Wordpress, not even Adsense. I have a personal Wordpress blog, but it's strictly personal.
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First, WordPress and WordPress.com are two different things. WordPress is the software you can download and install on your own hosting account; you can do whatever you like with it until your heart is content. WordPress.com is the hosted service provided by Automattic (i.e. a Blogger type of site).
You're correct that WordPress.com doesn't allow AdSense or other dynamic contextual advertising, however, their stringent policy on no affiliate links is becoming a little more relaxed as long as the primary purpose of your site is not for affiliate marketing.
See their recently added
Types of Blogs page. More specifically, look under the Affiliate Marketing section for a clarification of what's not allowed.
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Affiliate marketing blogs: Blogs with the primary purpose of driving traffic to affiliate programs and get-rich-quick schemes (”Make six figures from home!!”, “20 easy steps to top profits!!”, etc). To be clear, examples like people writing original book or movie reviews and linking them to Amazon, or people linking to their own products on Etsy do NOT fall into this category. (Emphasis added.)
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Just thought I'd give everyone a head's up.
~ Teli