Media player that plays local videos.

Is it possible to do the following:

Have a javascript or flash video player on my site. But instead of reading a video that is hosted on my site, the visitor can browse for a video that is on their computer and watch it online via my video player. With no uploading!

At first I thought this was impossible, but I'm not so sure now. Can anyone tell me if it is possible? Or how I would go about doing it?

(wrong forum)

Find a free flv player. Point the file to a local file on your system. Upload your html and the player. See if it plays.

Search Google for: FlowPlayer

Why would someone want to use your online player to watch a video on their PC?