Not really, I've been looking into this, honestly, a 4-core is the minimum I would put into it. The more cores you have, the faster everything is going to be, stream quality, stream smoothness, uses less internet.
That makes sense. Streaming is pretty resource heavy.
It's just live video encoding
I'm curious how an i5 will use less bandwidth than an i3?
It won't, really. If you're using x264, you can tweak video settings and presets to load the CPU higher for a given resolution and FPS output (make it able to output less FPS at X resolution, better worded) so you can have like:
the equivelant of 720p30 using 2500kb/s quality, while using only 2000-2200kb/s
the amount it actually helps isn't mind blowing and it takes like 4x as much CPU to go back from regular streaming preset (veryfast) to default, optimized x264 (medium) so it's not done very much. It hardly makes sense to significantly change budget for it