Here are 10 reasons (shortened version) of Digital Inspiration article that compares and contrast blip.tv with YouTube.
Here is a shortened version of the 10 reasons, but I encourage you to go to the detailed and easy to read article on Digital Inspiration for the comparison:
1. Blip.tv supports supports more video formats, including one called FLV files that uploads faster.
2. Blip does not have the time or file size limits of YouTube because of FLV.
3. People can watch videos in flash or original formats while YouTube offers only branded YouTube Player format.
4. Blip backups your videos to the Web Archives automatically.
5. Blip.tv allows custom thumbnails images to search that may increase the chance of your video being watched.
6. YouTube does not like it when people download their videos while Blip.tv makes downloading easy to do.
7. Blip.tv provides authors with more stats on how the video is being used rather than just the ratings, number of views, etc.
8. Blip.tv does not require registration for a visitor to leave a comment.
9. Blip.tv supports rich text formatting for video descriptions and YouTube does not.
10. Videos are not resized in Blip.tv