Many people seem pretty confused when physicist talk about things like the black hole information paradox. We think that all physical processes are reversible which means that distinct physical states will always remain distinct. If state A and state B could or would evolve into the same state C this assumption would no longer hold because you could no longer tell whether you arrived at state C from state A or B. The laws of physics would not be time reversible.
And this is the sense in which physicist talk about information, the description of the state space. If you throw something into a black hole the only things that remain visible are things like the mass, the charge or the (angular) momentum but you just lost all the details about the thing you threw into the black hole which is a problem for our understanding of physics.
Why is that a problem? The information could still exist, it'd just be inaccessible...
This seems no different to me than a spaceship going beyond the Hubble horizon.
I can't actually do that experiment. And it turns out, when we got deep enough, we found out that things actually behaved differently (parity non-conservation).
When it comes to time reversal, we can't actually do the experiment, either, so we don't really know whether physics behaves the same when time is reversed. We expect, philosophically, that it will, but we don't know. But it seems to me, given how relativity mixes time and space, if physics is not the same with left and right reversed, then it can't be the same with time reversed either.
I think in the idea I mentioned up time would stop in black holes. All of the information would be preserved.
Anyways, not a physicist.
Maybe gravity will turn out to be just a computational artefact. The more energy and states in a volume, the "slower" progression of the [local] system. An effect like this could appear as curved space at energy concentrations. Perhaps GR could be derived from something like this?