Board Thread:News and Announcements/@comment-917693-20140205140711/@comment-2020924-20140501214618

^ It all depends how you're converting it of course ;) For example, extracting the audio (like these online services usually do) is better than using a lossy mp3 converter or something (well, not that many people can normally hear the difference anyways) xD

Besides, I do believe its legal once the video's online, because by putting it online you agree that other users' (web browsers) may download the video onto their computers.