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Raspberry Pi Home Brewing
Do you like beer? Did you know that ZDNet's own Mary Jo Foley enjoys making her own beer? If you're a home brewer then you'll want to check out Ted Hale who uses a Pi to control every step of his partial mash brewing. Be warned, however, that this is not a project for amateurs. There's a lot that can go wrong here and when you're dealing with propane and fire this is one project that can literally cause things to go up in smoke if you're not careful.
Raspberry Pi in the sky
OK, so maybe you can't afford to pay to get a reservation on one of the first Virgin Galactic or SpaceX, but you might be able to buy a weather balloon, add some sensors, and a Raspberry Pi and get into the near space of 27 to 40 kilometers above sea-level. That's what Dave Akerman did with his high altitude ballooning, Raspberry Pi project.
This isn't a project you can do on the cheap, but if you like the idea of watching the world go by from say 30 klicks up, it's incredibly neat.