The grow bucket

I ordered a device called thegrowbucket. I seen some videos on YouTube of people using this with success , but that is easily faked . Was wondering if any body could take a look at the set up and let me know what I am in for . This is going to be my first grow , ordered in some purple diesel . Also all I have where I live is a Canadian tire , and all they seem to sell is miracle grow . Every where I have gone to says not to use miracle grow . How bad is it gonna be if I do ? The cheapest I am seeing for ordering soil on line is gonna cost me a hundred bucks almost for one bag of fox farms , and that's the smallest bag they have .. Thanks muchly for your time