This means that we can all watch people falling of donkeys on our cell phone...

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I don't know about this, most mobile phones still don't have 'real broadband' and some people pay by the bandwidth used, meaning watching one video could cost some serious money for some people that signed up a while back on a 2 year plan to get a 'free phone'.

In concept it will work in the long run, it's just that the cell phone network isn't designed for this yet.