Well, you may be able to host a few websites on that. I don't know the specs, maybe 1-2 Blockland servers. Bandwidth and speed may also become an issue if your on a residential internet connection. A lot of ISP's disallow hosting websites, even though the port is open. You may be able to host a web site for a few months without raising a flag.
If you're caught your ISP will most likely send you an email. That's how Comcast does it anyway. If you don't comply they will ban you from their service. I would check their terms just to be sure.
If your on a business connection then you can host whatever you want.
Also, does your server use linux? If so, you can look at
[GUIDE] Hosting a Dedicated Server on Linux if you want to host a Blockland server.
I would suggest at least 2GB of ram if you want to host game servers, and a decent CPU.
If you want to host for other people then I highly suggest you use a data center. Besides, if your power goes out everyone could lose a lot.