If you have a jailbroken iPhone 3G, you may be able to make use of Qik’s application, which can allow you to stream live mobile video right onto your phone. And though Apple is unlikely to release a video capture app for the iPhone anytime soon, this will certainly suffice.

I think what’s especially neat about Qik is you can broadcast live video right from your phone onto the Internet for others to see. Of course, you will need to be on the 3G network or a Wi-Fi network for this to work. EDGE just won’t cut it.

That being said, the following instructions were taken from the Qik website, and should help you get up and running:

1. If you have not already, you’ll need to sign up at http://qik.com/sign_up and receive an SMS from us to activate the application.
2. Launch Cydia.
3. Go to the “Sections” tab at the bottom and scroll down to “Multimedia.”
4. Under Multimedia, you will find Qik. Tap on it then select “Install” at the top right, then in the same spot tap “Confirm.”
5. Now you will see Qik get installed. You may hit the “Return to Cydia” button at the bottom or just quit Cydia when it is done installing.
6. You’ll now notice a “Qik” icon on your home screen – Go ahead and launch it.
7. As long as your initial signup SMS/text message is still in your inbox for the first launch, your account will be linked to your device.
8. Make sure you have 3G service or are on WiFi (edge is not sufficient enough to stream video) before you begin broadcasting.
9. Hit record and enjoy Qik!

Vincent is currently testing out Qik, so we’ll let you know how well it works on the iPhone 3G!

Here’s a sample qik video shot from the iPhone 3G. Follow iPhone Buzz @ http://qik.com/iPhone