So I've seen a couple of these types of websites out now. I have never understood why anyone would want to launch such a service, other than an exercise for creating a website that uses video? How is it so much better than the available alternatives that people would want to switch?

Can you explain why people would go through the process of registering to use your service, over just sharing using youtube links on facebook or facebook directly?

Do you have a business model? How would you plan to monetize assuming your service became really successful?

Is the success of twitpic limiting your imagination?