As you’ve no doubt heard, the 85th annual Academy Awards Ceremony is being hosted this weekend on ABC. Unfortunately, and to our complete surprise, we failed to garner an invitation. But there’s no need to fret. There are other exciting ways to watch The Oscars. Some people host Oscar Parties. Which are fantastic – if you’re going to Elton John’s. I mean, sure, it’s great to hang out with friends, to gossip about this gown and that nominee, but who really wants to get dressed up on a Sunday night and make three-dozen pigs-in-a-blanket just so your friends can fight over whether it’s Argo or Fargo that’s up for best picture? Wouldn’t you rather participate in all of the fun discussions of Oscar night with fans across the world… in your pajamas?

Well, I know I would, but that’s just me. So, instead of hosting a fancy gala with all of my fashionable, celebrity friends (read: cardboard cutouts), I participate in the constant and usually hilarious conversation on social media.

Liveblogging – or livetweeting, depending on your preferred social media platform – is a term for holding a running commentary of what is going on at a given event in real-time. And Award Shows are an absolute feeding frenzy of liveblogging by social media enthusiasts, the famous, and the general public alike. So who knows? If your quip about that acceptance speech is witty enough, it might be retweeted by one of your favorite social media moguls.

But it’s not only Twitter that shines on Awards Night – Tumblr is also a hive of activity. If you don’t have a Tumblr by now, you really should (see why you want to have a Tumblr account). Tumblr is an absolutely fantastic platform for liveblogging, especially for events such as award shows. The Tumblr community is lightning-fast in its reactions, and will probably have animated gifs of the most fun Oscar moments uploaded minutes after they occur. It’s a great place to share ideas about wins and losses, nominated films, and much more.

Statler and Waldorf, from The Muppet Show

So, did the red carpet fashion police love an outfit that you think is absolutely unforgivable? Tweet about it! Did someone’s acceptance speech move you to tears? Add an emotional hashtag so you and your friends can cry on each others’ shoulders. Can you absolutely not believe that your favorite actor was robbed? Write up a blog post dedicated to their amazing performance. This is your arena. You decide your own winners. To your followers, YOU are Siskel and Ebert. Or Ebert and Roeper. (Or Statler and Waldorf .)

And if you really like that sort of thing, there’s no reason you can’t get dressed to the nines to liveblog your favorite awards show.

The point is to enjoy it any way you like! Here’s a list of some great livetweeters to follow on the big night.

What are your predictions? Join the conversation at #Oscars