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I have kinda old PC in my home - 2 cores 4 threads CPU. Can I split this CPU for 16 KVM slices? I just read that a KVM virtualization gives the opportunity to split 1 core into 8 vCores, maximum. Does this Proxmos has the same philosophy?
Yes. You are only splitting 1 cpu into 2 vCPUs..so you should be fine. These days, the real bottleneck is disk I/O. Do you have SSD in your old box? If not, just know that disk I/O will degrade significantly as you sell more VPS instances on it