If you have ideas for monetizing a VPS please feel free to share them. Instead of proxies, file streaming and uploading services I can't find another idea for the moment. Thank you.
Technically, you can install any website and monetize a website. If you want to have some money from VPS without websites, you can install control panel and sell shared hosting accounts.
Slap up a blog, add some ads to it and write about something that you are passionate about. After awhile the search engines will come by and knock on your door, greet them nicely, welcome them in and let them look at whatever they want. Then get ready to accept the visitor storm following and cash in on the advertising.
Thank you all for your answers. I know websites can monetize, but I was thinking about dedicated VPS websites... websites that need a vps in order to run properly. if you have any related ideas let me know... Blogs or casual websites can work on shared hosting very well - there is no need for a vps.
There are good reasons to use a vps over shared hosting, even if you're just running a website. If you use a vps, you have much more freedom in what you install on it. For example, most shared hosting has only php5, while on a vps you can install python apps and ruby on rails apps. Some applications required cron jobs, which also don't typically come with shared hosting. For example running a track-back script on a blog or updating account permissions on a forum. There are some shared hosting providers that give these things, but not most, and it is often a hassle to set up with them. If you have a vps, you have total control of your site and it is very good experience to learn how to sysadmin a little for when your site gets bigger and you need features that a shared host can't provide. Often an unmanaged VPS will cost only a few dollars more than shared hosting.