No, I mean you can probably make a bit but ads on video sites are REALLY annoying and if Youtube can't make money.....
Do not be surprised, you can make money online video sharing. Ad sense for the results to be very popular. That is why the site more and more shared revenue are born every day. It works with a very simple way. try a site like MediaFlix.
You can't make money if you host the videos. I don't think that youtube makes some profit after paying the hosting costs.
Of course you can. If you can't and other people can't, then sites like youtube would be down. Not to mention video sharing sites use a lot of bandwidth each month, and it's not free.