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yes, going to the viewly page you can add the link to your youtube video at bottom of upload page. paste your title and info into the optional boxes. viewly will upload video and add format. you can then plug your title, tags, description, and your private key and steem username.

Unless I am wrong, doing this way will degrade (at least a little) the quality of your video, for it has to be re-encoded. But I guess it is not very important for most people.

the degradation of resolution isn't all that bad for me since i'm on a really crappy wifi connection most of the time.

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