ERROR: Unable to download webpage: HTTP Error 429: Too Many Requests (caused by HTTPError())

[Kiznel]

$ youtube-dl -v https://www.youtube.com/watch?v=V00tr9TdFgc
[debug] System config: []
[debug] User config: []
[debug] Command-line args: [u'-v', u'https://www.youtube.com/watch?v=V00tr9TdFgc']
[debug] Encodings: locale UTF-8, fs UTF-8, out UTF-8, pref UTF-8
[debug] youtube-dl version 2016.01.01
[debug] Python version 2.7.6 - Linux-3.14.32-xxxx-grs-ipv6-64-x86_64-with-Ubuntu-14.04-trusty
[debug] exe versions: avconv 9.18-6, avprobe 9.18-6, ffmpeg N-76944-g15206ff, ffprobe N-76944-g15206ff
[debug] Proxy map: {}
[youtube] V00tr9TdFgc: Downloading webpage
ERROR: Unable to download webpage: HTTP Error 429: Too Many Requests (caused by HTTPError()); please report this issue on https://yt-dl.org/bug . Make sure you are using the latest version; type youtube-dl -U to update. Be sure to call youtube-dl with the --verbose flag and include its complete output.
File "/usr/local/bin/youtube-dl/youtube_dl/extractor/common.py", line 330, in _request_webpage
return self._downloader.urlopen(url_or_request)
File "/usr/local/bin/youtube-dl/youtube_dl/YoutubeDL.py", line 1886, in urlopen
return self._opener.open(req, timeout=self._socket_timeout)
File "/usr/lib/python2.7/urllib2.py", line 410, in open
response = meth(req, response)
File "/usr/lib/python2.7/urllib2.py", line 523, in http_response
'http', request, response, code, msg, hdrs)
File "/usr/lib/python2.7/urllib2.py", line 448, in error
return self._call_chain(_args)
File "/usr/lib/python2.7/urllib2.py", line 382, in _call_chain
result = func(_args)
File "/usr/lib/python2.7/urllib2.py", line 531, in http_error_default
raise HTTPError(req.get_full_url(), code, msg, hdrs, fp)

$ youtube-dl -U
youtube-dl is up-to-date (2016.01.01)

[dstftw]

You may want to read FAQ entry on the issue and this discussion.