Veetle is an internet-based service which allows users to share video content with the others, in a free and comfortable way. Anybody can share anything, obviously, as long as the content isn't illegally shared by the person who shares it. The idea is that as long as you're watching them you won't have any problems, but you might have problems if you're the one who shares them and you are not allowed to (you didn't pay for that content).
It has some disadvantages, however. Everything is shared by users, on users' computers, so if the user looses the connection or doesn't have enough bandwidth for sharing with everybody, the channel will become unavailable or it will play badly (with frequent stops). But, mainly, the idea is good. Right this moment, there is Iron Man 2 broadcasting on a channel and the quality is somewhere around 7-8 on a scale from 1 to 10. If the user continues broadcasting, the following film will be "Robing Hood" (users have the possibility of creating a schedule of their channels).
It is compatible with Windows, Linux and Mac OS X, and all that you have to do is to go here and download it. You'll automatically receive the version of Veetle according to your OS. There's no stand-alone app, practically spoken. That's just a script that's going to allow to watch you directly from your browser (just go to Channels on Veetle.com).
Please note that it isn't compatible with all browsers (it runs just fine on Google Chrome on any OS).