FFMPEG slow VP8 encoding

I am trying to encode video from my webcam into a VP8 stream. Sending a WebRTC stream from my webcam using Chrome looks pretty good and doesn't use a lot of CPU power. When I try to transcode my webcam stream to VP8 (webm) using FFMPEG then it's very, very slow.

On OS X I use the following FFMPEG options to generate a VP8 webm file. The source is a 720p Facetime webcam. It drains my CPU usage (late 2011 core i7 MBP) and the quality isn't very good:

ffmpeg -f avfoundation -i 'default' -y -qmin 11 -qmax 45 -b:v 500k -cpu-used 0 -deadline realtime test.webm

Which protocol is used for WebRTC and how can Chrome be so fast? I was under the impression that VP8 cannot be done in hardware. Using modern Intel CPUs you could use QuickSync, but I guess that is H.264 only and not supported by FFMPEG.

This is actually normal. Right now the WebM Project is still relatively small, with the only major adopter being Google's YouTube streaming service.

WebM encoding [using the VP8 codec] is extremely slow, but somehow the newer VP9 codec is even harder on consumer machines. It seems like it isn't too much of a problem for Google's massive servers, but the major benefit of WebM video [its highly effective compression] is its downfall for average users.

From the WebM Project site:

Encoding WebM videos seems really slow. What are you doing about that?

Today, encoding VP8 in "best quality" mode is the slowest configuration. >Using "good quality" mode with the speed parameter set between 0 and 5 will >provide a range of speeds. We believe that we can make substantial VP8 >speed improvements, especially with your help. We increased overall VP8 >decoder performance by ~28% in our October 2010 "Aylesbury" release and are >focusing on encoder speed improvements for our next named release.

Hope this helps!