Ustream is the first of the live video streaming sites to come out with an iPhone app. You can watch all sorts of live video, from puppies playing to professional broadcasts with the free Ustream Viewing Application. You can even participate in the live chat. You do need a WiFi connection, but there is a lot of programming to choose from.
Related: https// and using Fluid.app, Using Airport Express to provide Ethernet connection from existing WiFi network?, iChat video-screen share-video, Multiperson iChat with computer to computer network, Viewing DVD’s on iPhone.
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