kohlrak: Well, that's basically how this works. Kind of like how much of forum software allows "deleted threads" to come back: they're never deleted, just hidden and made unavailable to anyone who's not a moderator. The library is just a manifestation of the records, because they can't really simply follow a bunch of paper trails through their system. The difference being, with gog's "hidden" you can actually go in and view the hidden material. Anything else would be too inefficient to be effective, especially given steam's huge user base.
Kind of, but not exactly.
To simplify this a lot. What happens it when you buy something from a site like Steam (or GOG), say you buy "Game A"... it's marked in some backend database that user with id say "4321" bought "Game A" with id say "1234". When that info, like your library, is pulled and displayed to the user, say on the website, you query that info from a database using a unique key like the users id which everything you buy and do is linked too. What Steam is probably doing is creating a record in the database when you delete the game, which is then updated if or when you restore the game to your account.
The game is actually deleted from your account though. There is simply a record kept in the database that is tied to your account id in case you want to restore it later.
You can hide your library games on Steam just like you can hide them here. That function is not the exact same as deleting them. They still show up as owned in the system and still show under your game total in your profile, etc.
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And with forum software, sometimes forums will set up a hidden board that only moderators can access then move threads to that board instead of deleting them. So in a sense your are correct, but forum threads can be actually deleted if a mod wants to or has the power too, which usally can't be reovered. Some forums admins though feel it's better to keep threads rather then deleting them to watch lower mods who may be removing threads that shouldn't be removed, so they only give them the power to move the thread, etc.
It's more of a check and balance thing then an actual feature of forums...at-least that is my exeprience with the forum software I have used over the years, granted it's been a few years.
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@OP: I would also like to see this feature. It would not be that hard to do, and it's easy enough to create a record that can be used to restore the game should one change their mind.
I have games I would like to remove myself, some were free that I didn't care for much and some are demo's etc. I'm a bit OCD about keeping my game collection nice and clean with games I actually want to play.