I suppose you could and I am certainly no expert so it might even be better that way. A couple cons to that are that it looks cryptic so it's a little easier to detect, that you have to share the URL somehow (as opposed to hanging out in usersub on imgur), it's usually more difficult to deal with large amounts of raw text than an image, and if you use PGP instead of AES->base64 (or something like that) you would have to know the recievers key. I guess that last bit depends on the use case.
I'm not saying either approach is better. Maybe one is better, I don't really know.
