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The act of broadcasting a live video stream directly from your mobile phone's camera to another source, in most cases, a website.
Mary: I wish I can go to the John Mayer's concert with you! I have no money!

Jane: Don't worry, I'll be livecasting it so you can watch it in real time.

Mary: How do I livecast?

Jane: It's easy.
by March 31, 2009
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