I'm not sure what you mean by "only" but you can kind of use a thumb drive to replace a hard drive in some cases...you still need ram and all the rest of the regular stuff
You'll still need the rest of the bits, but can be HDD (and SSD)-free.
Note that Windows will refuse to install to an [strike]HDD[/strike] USB-attached storage devices (including thumb drives and external HDDs), with the exception of 8 Enterprise. You'd want to go the Linux route.
You can't install Windows on a thumb drive/USB stick, unless it's Windows 8 Enterprise.
However, you can install most versions of Linux on a thumb drive/USB stick.
Sorry to kind of derail this thread but I was just curious. What constitutes a HDD to the windows installer? How does it tell a USB drive from a HDD? Would a external HDD not be counted because its plugged into the USB ports?
You can't install Windows on a thumb drive/USB stick, unless it's Windows 8 Enterprise.
However, you can install most versions of Linux on a thumb drive/USB stick.
Sorry to kind of derail this thread but I was just curious. What constitutes a HDD to the windows installer? How does it tell a USB drive from a HDD? Would a external HDD not be counted because its plugged into the USB ports?