I have only been able to find one "discussion" on this:
from 5 years ago.
I understand that everyone has that one feature they want, but editing post seems like a very basic feature to be missing?
My obvious response to this I can help add this feature, but I guess if it was that simple then there are plenty of others that would have done this. Is there any reasons making these additions isn't so simple?
Suppose someone post a picture, receives many criticism and then he decided to change image by editing image looks not that good. However this is possible you may look existing post edit functionality/form.
For privacy you can see https://www.opensource-socialnetwork.org/component/view/5923/privacy-changer