YouTube has had a feature for sometime on their desktop web video upload client that allows video uploaders to choose whether their video is public, private, or unlisted. Public’s for the world to see, private is for you and your bros, and unlisted makes the video only viewable from a direct link or embed.
That feature has just arrived in iOS 4.2 beta 2 and hopefully it sticks around for the public launch… which it probably will.
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