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Is a old raspberry pi viable for anything with Linux?
(programming.dev)
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The biggest limitation on the older models is RAM. There's other issues with network contention (the Ethernet is actually a USB device on the board), raw CPU (especially gen 1 boards), but really it's all about the RAM.
I use these kinds of boards for more hardware/embedded kinds of situations. No GUI Linux machines will easily run in 200-400MB of RAM before you start spinning up additional services or tools.
If you're really RAM blocked you can use a more stripped down Linux install or even hop to BSD and run real lean on resources for the OS. All of these options can still run most network services or simple build/dev kinds of support systems. They could be message queue servers, run GPIO-driven hardware systems, be sensor platforms, run DNS/DHCP/PiHole kinds of systems, be a speaker driver endpoint for a larger system, bong a clock sound every hour, or whatever. That's just what I could come up with while typing on the fly. If you start adding hardware to the IO ports it just goes nuts what even the older boards are capable of.