I want to build a Dream gypsy! Could you ever live in a tiny space?

So I am going to share one of my family's future goals/dreams. My husband and I have a big dream of buying a school bus, and converting it into what we call a gypsy wagon! It would be our little home on wheels. It would have everything our current home has, just a whole lot smaller. We could then go wherever our little hearts desired. Growing up my husband had the opportunity to travel a lot. I myself have traveled very little, and I feel it something that I really missed out on. Therefore, I would really like my daughter to have the opportunity to experience the things I did not. There is so much beauty in this country and I feel it a shame to not get out and see as much of it as we can!!!!
Still I am torn on letting go of the home, and life we have now for the unknow! In a lot of ways I truly want to embrace the idea of this new lifestyle wholeheartedly, whilst on the other hand letting go of the only way of living I have ever known for something so unknown seems terrifying!!!!! I have two very different parts of my personality. There is one side of me that is very fun, free spirited,and artistic wild child that says let's go for it! The other part of me is a lot more practical and afraid of change worrying about all the unknown details, that says "what are you crazy!!!!!" "You can't do this!!!" Ahhhhhhh the struggle! I truly like the idea of less stuff, less debt, and almost no bills! We were not meant to just pay bills and die!

I feel like all your stuff begins to own you, instead of you owning it! Maybe less can really be more?? Maybe experiences and making memories will become more valuable than the square feet we reside in???? On a side note, I would like to add that my husband has lived in small quarters before we were together. He once lived in a VW bus for years, and also once on a sailboat for a couple years. He loved both experiences immensely, and reassures me I will too! Do any of you have experiences with living small, or in an unconventional place? I would love to hear about your experience, or any advice you may have to offer? Has anyone lived small with a child or children? Here is the topic: Do you think you could go tiny? Now let's discuss.