Not sure if this is possible with sed, but after a bit of googling I believe this is the right tool. I am trying to replace MAC addresses of my devices with human-friendly names. I created a file with 's/MAC/Laptop/g' lines and for cat it works:

cat file.csv | sed -f list (this replaces mac addresses as expected)

but real-time output doesn't:

airodump-ng wlan0 | sed -f list (no substitution takes place)

Can this be achieved with sed?