Do you know Peer Cast?

PeerCast is a simple, free way to listen to radio and watch video on the Internet. It uses P2P technology to let anyone become a broadcaster without the costs of traditional streaming. This means you get to hear and watch stations not normally found on commercially funded sites.

The unique feature about PeerCast is a robust network because there is no central server; each user can be a client, server or broadcaster of streams. It offers anonymity for broadcasters because there is no easy way to trace back to the original stream, it is even possible to broadcast directly to a single client located in a different country and have that provide the source for the entire network.

PeerCast can also serve streams directly to any media player. This means that it can be used in place of a Shoutcast/Icecast server to provide both direct and P2P streaming at the same time.

It works in much the same way as other P2P fileshare clients except that instead of downloading files, the users download streams. These streams are then exchanged in real-time with other users. No data is stored locally on any machine connected to the network.