Here is one of the ways to make your peer-2-peer channel. There is
Talxy.com , which allows you to insert a flash drive on the site and broadcast video from the webcam for everyone who sees this flash drive. In this case, the more watching, the less will be the load on your channel and the higher the quality of the broadcast. Talxy is designed so that viewers connect to the peer-2peer network and are used to relay video to each other.
Now we take some kind of prog for a virtual video camera, like
ManyCam.com , set it to play all the videos from the directory with your favorite movies.
Next, click in the talxy-flash on the right button and select the ManyCam virtual webcam as a webcam.
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Voila! We get our own TV channel for friends without any advertising with a resolution of 640 by 480 (not HD, but also not bad).