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I can't tell you with Adobe, but what I use on another program is a 2 pass average bit rate of around 1200. Sometimes I can squeeze it down to 800 but if there is a lot of movement I need it higher. Less movement and I can squeeze it down. You really have to play with it and see what works best for your footage. Of course you can go way up around 3000 and have very large but crystal clear files. Or encode for both and detect the users speed and give them the version that is best for them.
After you encode it you want to change the moov atom. A few free software options to do this, its quick and painless.
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