We present the 3D Video Recorder, a system capable of recording, processing, and playing three-dimensional video from multiple points of view. We first record 2D video streams from several synchronized digital video cameras and store pre-processed images to disk. An off-line processing stage converts these images into a time-varying three-dimensional hierarchical point-based data structure and stores this 3D video to disk. We show how we can trade-off 3D video quality with processing performance and devise efficient compression and coding schemes for our novel 3D video representation. A typical sequence is encoded at less than 7 megabit per second at a frame rate of 8.5 frames per second. The 3D video player decodes and renders 3D videos from hard-disk in real-time, providing interaction features known from common video cassette recorders, like variable-speed forward and reverse, and slow motion. 3D video playback can be enhanced with novel 3D video effects such as freeze-and-rotate and arbitrary scaling. The player builds upon point-based rendering techniques and is thus capable of rendering high-quality images in real-time. Finally, we demonstrate the 3D Video Recorder on multiple real-life video sequences.