Scientists in terahertz (THz) wave technologies have benefited from the recent developments in ultrafast laser technologies and RF technologies and applied these new gained techniques into characterizing a wide variety of phenomena. Undoubtedly, the most successful of these applications has been in the development of time-domain terahertz spectroscopic and imaging systems which has been utilized in the characterization of dielectrics and semiconductors. This pulsed technique has allowed users to characterize dynamical behavior inside materials under illumination with picosecond resolution. Typically pump/probe or similar dynamical measurements require the use of amplified pulses derived from free-space solid state lasers in the J-mJ range and since interferometric techniques are typically used in pulsed measurements the measurement time of a THz spectrum can last at least tens of minutes. Better systems can be realized based on fiber laser technologies. Here we discuss the advantages of a THz spectrometer driven by an ultrafast Ytterbium doped fiber laser whose repetition rate can be tuned rapidly allowing for rapid dynamical measurements. The efficient gain medium, robust operation and compact design of the system opens up the possibility of exploring rapid detection of various materials as well as studying dynamical behavior using the high brightness source.