How will Home Assistant work on Raspberry Pi 1 model B?

What are the disadvantages, will I see much difference between the Rpi1 and Rpi3 except from speed?
Is there anything that isn’t compatible with Rpi1?

I am truly a beginner in this topic, I haven’t installed my first Home Assistant yet and have barely any clues on what kind of things that I will be able to do.

Appreciate all answers and guidance I can get!

An install using Hassbian, or a manual install should work fine. I have heard using hassio runs out of of memory when you try to use addons.

I have been using my Pi 1 B+ for over a year, with no problems.

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Thank you @gpbenton, what do you have installed on your Hassbian?

I have mosquitto, my own driver for a 433Mhz card, influxdb and telegraf.

The latest version of influxdb is giving a few problems burning all the cpu when it compresses files. Its getting to the point that I am thinking of buying a Pi 3 to move it off the Pi B+. But I would probably leave HA running where it is, to avoid having to change everything.