The increasing assortment of devices with IP connectivity contributes to the high popularity of video sharing over the Internet. High traffic generated by such applications at the source can be better distributed using a peer-to-peer overlay, since every user forwards information to other users. Current implementations target either live or on demand video streaming. LiveShift is an application that combines both approaches. While video is transmitted through the peer-to-peer network in a live fashion, all peers participate in a distributed storage. This adds ability to replay time-shifted streams from other peers in a distributed and scalable manner. For the demonstration, a decentralized network is used, with peers running on EMANICSLab nodes and notebook computers.