Not running power to the GoPro, and the battery lasts around 1.5 hours. It could, but the side door port that makes the device waterproof would be open to the dust and elements. Prolly better mounted behind the windscreen if always powered. It has loop recording modes of like 5, 10, 15, 30, 60, 120, Max (full card) minute increments.
For long rides and permenantly mounted applications, a dedicated bike cam system like SS uses is prolly a better choice.