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To take up precious time here so that your original fuck up stays as written the first time since the time allowed is nearly a joke.
Then again it could be to explain why it was edited, say for instance a Mod edited something and wanted to place a reason behind doing so. Maybe preventing a crap load of messages sent in (or emails) asking why was my post edited. On a user end maybe it is kind of pointless unless you want to explain what you changed in your own post which is sort of well silly.
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