Well, my friends, that is no more.
Introducing the new and improved video BBCode.

Here is how you use it: When you upload a video to YouTube or Vimeo or any other video service, copy the link to the page. It should be something like this:
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https://www.youtube.com/watch?v=fvQ0VPLBWS4
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https://youtu.be/fvQ0VPLBWS4
Paste the link in your post, highlight it and click the video BBCode button. That's it. You're done.
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[video]https://www.youtube.com/watch?v=fvQ0VPLBWS4[/video]
[video][/video]
I promise; you will love the new way. It's intuitive.