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No I don't. YouTube is free and people know that when they upload videos, people anywhere in the world can watch them, and if they don't want people using them on other web sites, then can disable embedding.
If you are using a few YouTube videos just in a blog or something, that's fine. I do however think that it is pointless to make a video site that is an exact clone of YouTube and of which all of the videos are actually YouTube ones.
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