Livestream is a streaming video site that lets you watch events in real time as they unfold, such as sporting events, lectures, concerts or any other event that can be recorded and played live. The program "Fraps" allows you to record things taking place on your screen. It's designed for games, but it can be used for anything playing on your screen although that is not it's purpose. You can use Fraps to record Lviestream videos.
Download and install Fraps from the Fraps.com website.
Open the program and click on the "FPS" tab. Check the boxes next to "Monitor Desktop Manager" and "FPS."
Visit Livestream.com and click on a video you want to play. Click on the "Full Screen' icon to make it take up your whole screen.
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Press "F9" to record the live stream. You'll see a number in the bottom left of your screen that tells you the frame-rate and confirms that you are recording. Press "F9" again when you're done to finish recording. The video will be stored in AVI format in your Fraps folder.