So with the 1 second interval, the videocam takes a shot once every second (instead of every 1/30th of a second, the usual frame rate for a normal video). Let's say you aim your camera at a person walking slowly past you, and start taking a video. You need to keep the camera stationary this whole time. The camera records a frame every second, but when you play it back, the frames are played back at the normal speed of 30 frames/second . So it looks like the person is zipping past.
If you took a video at a longer interval (say, 10 seconds), then you could speed up the progression of some naturally slow process, like an ice cream cone melting. Keep in mind that you have to keep the camera stationary when taking a time lapse video, so you'd need a tripod or something similar. So if you aim the camera at the ice cream cone and hit record, it records a frame every 10 seconds If you let it record for 10 minutes, it's taken 60 frames, and the ice cream cone is probably mostly melted. When you play the video back, those 60 frames are played at 30 frames/second, essentially speeding up the melting process on video.
Make sense?
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