If you like the idea of Instagram but it's just not live enough for you, then Socialcam is the network for you. In a nutshell (a very large nutshell), it's like Instagram for video. The app, which was started by Justin.tv and then acquired by Autodesk, just got bumped to version 2.0, which brings several new features and a new UI to the app.:
Front facing camera
Tons of bug fixes
Works on newest Android phones
So, what can you do from Socialcam?