It is still fast. Let's say, it can complete 1 registration form in 1 second. Instead of doing one form every 1 second, it simply does 20 forms in 20 seconds.
In fact, it could be faster. Because while it is waiting for the web server to respond to it's HTTP request, it will be idling. So instead of idling, it can simply shoot off a few more HTTP requests to few more servers.
I'm really simplifying it here. I'm leaving out server response time and such. A well written bot can be much more efficient.
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