Recording at normal speed and then speeding it up takes a lot more storage. Time lapse takes an individual image at set intervals. So while it takes an image every 10 minutes you have 144 frames per day which is about 3 seconds at normal speed. Recording at 30 frames per second for a day gives you 2,592,000 frames and speeding it up to play in 3 seconds would would be a blur unless you threw away a bunch of frames.
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