Computer has the blu-ray?
If so you would have to hook the computer up to the TV to use the blu-ray player.
Further, if your T.V. is hooked to a computer, and the computers are hooked via network, you might be able to share the Blu-ray drive and use it on the computer hooked in the living room. I'm not sure how many MB's of data is read a second with blu-ray, but I'm gonna say a lot. Streaming blu-ray will take a lot of bandwidth. So if it stutters or skips, you don't have enough bandwidth to stream.
You can forget streaming it over the internet. You don't have the power! =P