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I looked around and there is nobody claiming that there are watermarks and no evidence I can see. Also there is no theory for how it can be done under uncontrolled re-encoding

As I recall, researching this was quite laborious and the data was very open to interpretation, and I pretty much had to guess what you would decide after poring through the quite confusing evidence. And, yes, I would prefer not to do the research again.

@traders anyone have any evidence of this?

@Ernie only what is available by googling