There have been great societies that did not use the wheel, but there have been no societies that did not tell stories. -- Ursula K. LeGuin
Downloadable Video is the most common approach to high-quality online video. The video file is downloaded from a server (or servers) to your own hard drive. It may be played as it downloads or later. It can take up a lot of room on your hard drive:
Streaming Video is the technology used by YouTube and many other popular video viewing sites. A streaming video file is played by your computer as it flows from a streaming server to your computer. Just like a stream of music on a radio, the file is not stored on your computer at any time. The stream may be halted during a period of congestion, but the file never takes up any space on your drive. You do, however, need to have adequate bandwidth to handle the stream. For that reason, most streamed videos have small images sizes and lower quality, both of which reduce streaming bandwidth requirements. In theory, streaming video permits users to view, but not save or retransmit, copyrighted video. Windows Vista includes a mechanism to enforce this restriction. In practice, it is often easy to capture and save a streaming video. Live and lengthy video productions are often streamed so that users don't risk filling up their hard drive to view a two- or three-hour video. Any live video image viewed over the web would use streaming video technology.
The talking pictures are very crude as yet. It will take a year to perfect them and my new invention.
-- Thomas Alva Edison, Interview in the New York Tribune, September 1913.
There are three ways to access video over the web:
The destiny of the world is determined less by the battles that are lost and won than by the stories it loves and believes in.
-- Harold Goddard (The Meaning of Shakespeare)
A camcorder set to stream live video

Streaming Camera ~photo by jobeone