Meerkat is an app for android and iphone that lets you stream video live to twitter. (Until May 11th Meerkat Tshirts are even available for purchase on Teespring)...  There are some TOS on their site that also should probably be looked at, but I'm bad about skipping that sort of thing.  Mainly it does let you keep your own content and say things like don't use content that you don't have legal access to use - as well as anything illegal.
Meerkat allows you to live stream video from your phone to all of your Twitter followers at once. Press 'Stream', and instantly your live video stream shows up in your follower's Twitter feeds.
Meerkat has their own twitter account which I had to check out. Right now the most interesting live feed was from the solidarity protest in New York. They also are using the hashtag #stream4Nepal and April 29th there was a live feed of someone flying drones?
So really!  It's alot like snapchat for twitter and with video.  You can schedule your tweet or stream it live immediately.  Once the video is viewed it's deleted. Personally I'm not a big fan of snapchat... It allows us to have the impression that a picture will be viewed and then poof it's gone. For pictures, it's super easy to take a screen shot and save the picture.  A video, I'm sure it won't be long until it's saved.  It is a cool idea for viewing live events around the world.  What event though would you feel that it should only be seen once?  The only things I've thought of so far (that are legitimate) are paid videos that the viewers pays to watch... What do you think?    

The Rules of Meerkat

The Rules of Meerkat

Everything that happens on meerkat happens on Twitter.

Streams will be pushed to followers in real time via push notifications.

Everything is live, no reruns.

Watchers can restream any stream to their followers in real time.

Scheduled streams will be distributed in the community by subscribers.

Your own streams can be kept locally on your phone.

Everyone can watch on the web.

Be kind.

Meerkat in Itunes