VLC own file extession ??

[CaptainRuvim]

Would you professionals from vlc be able to create your own file extension like .avi .rmvb .mpg etc from kgb archiver core engine infused with vlc player which would make vlc video file extensions way smaller then any known to man. since the core files would be compressed ofc only newer computer would be able to uncompress the video files to render them and would use a s*** load of memory and cpu. i got the idea from downloading a youtube video "why is the rum gone 10hr" and the file was 1.5 GB while the video was only 3 mins long and just repeated itself. i wouldn't mind giving a generous donation for getting this project started after my company takes. perhaps after i sober up a tiny bit i will reply or if i am missing something do let me know.

[VLC_help]

IMHO Matroska (MKV) is good enough container format for generic use
http://en.wikipedia.org/wiki/Matroska.