There is no "real time" camera or Web cam on board the telescope for live relay links. The images that the Hubble takes are digital pictures and spectra released to the public after one year (to allow the investigators time to do their research).
The data, which are transmitted from the telescope in digital form, needs to be converted from this digitized information by computers into black-and-white photos. These are then enhanced to discern details in the images.
For more detailed information on how the telescope and its instruments operate, visit HubbleSite's Nuts & Bolts.
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