Minecraft wiki entry for Setting_up_a_server, associated text: Create a folder and copy the Minecraft server jar in it.
In the actual version you will get this exception syscall epoll_create not implemented if you run the server in the usual way, so we add this line to the command to fix that -Djava.nio.channels.spi.SelectorProvider=sun.nio.ch.PollSelectorProvider.
The command to launch is like: