Yes, you can watch and record two different shows at the same time with only one DVB or ATSC TV card. A separate TV card is only required for channels on different transponders (frequency) or with analog tuners.
You do not even need to have MediaPortal loaded to record TV. The TV-Server runs as a Windows service in the background. Of course, you have to schedule the program in MediaPortal for recording first.
MediaPortal is much more than a VCR or DVD Recorder. It is a very advanced Personal Video Recorder (PVR), like a TiVo, but with even more functionality. You can record multiple shows on different TV cards with different settings all at once. Don't panic! It's very easy to get started. Before you know it, your whole family will be recording all their favorite shows.
You can specify the folder for recordings in Configuration > TV-Server > Recording. You can also specify how you wish to name your recorded files as well as many other options.
There are several ways you can record TV:
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