AND it is perfectly legal too! All you need is atleast 3 HDMI cables and this device and you are good to go.
Just plug your PS4 into the HDMI In, and another from the HDMI Out to your capture device and then the 3rd to your TV.
Without this device, you cannot record footage for videos. Until the coming patch disables this.
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The fact that you even have to do that at all is ridiculous.