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Individual flash memory cells have a limited lifespan, but that lifespan is measured in the hundreds of thousands or even millions of erase/write cycles, with the controllers themselves utilizing algorithms designed to balance wear across the entire card's cells.
Watching a video from the flash memory isn't erasing or writing, so you are pretty much safe. Additionally, nearly all flash cards come with a lifetime warranty, so if your card does stop working you'll be entitled to a replacement.
However, as with any media, you should always secure a backup of your data to avoid loss due to unforeseen circumstances.
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