Hello, please lets create list of things we can do on a VPS (virtual private server, linux server).
How we can use linux server?


ideas:
hosting an website with some information, downloadable files, discussion, blog
torrent downloading/seeding, we can install linux torrent client and download/upload files in high speed
remote desktop, we can install VNC server and desktop software on a VPS to use it like non stop running computer/workplace
private encrypted proxy, any linux VPS can be used as an socks proxy so one can access internet more securelly.
backup space, use it as an backup medium, data can be transfered via SCP client, FTP...
game server - hosting an application for online multiplayer gaming like Minecraft, Counter Strike, L4D2
Tor relay node - helping speedup Tor anonymity network
host a teamspeak server, google query: setup teamspeak linux , or host mumble server
radio streaming relay
VOIP server?

cancel it and save electricity, money and time needed to manage it

Need to know how to use VPS in any of above mentioned ways? just google: VPS how to <activity_you_want_to_do_on_it>