Do I need terms of service/privacy policy on my site?

[Jackson]

I was planning to have a site like say NormalBoots or Youtube, with video stuff and registration stuff. I noticed that they both have TOS page and Privacy Policy (it makes sense for Youtube actually...) but I was wondering if I needed a TOS page and privacy policy on my site. Any help would be appreciated!
It's not a company website either, I just make videos and wanted a secondary place to make videos (like videos I wouldn't be able to do on Youtube).
I guess I should clarify that I`m the one that would be uploading, just using a second hub to upload videos earlier than on Youtube. Not a Youtube-like service.

[Thomas]

I would be very surprised if you did not want your own terms and conditions laid out in full IF you are wanting other people to post videos on your site. The TOS is for you and your own protection!