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The basic ingredients are a phone line, electricity and a view. Add some time and money and you have a web cam.
Many people use a camera hooked up to a computer with a modem. The computer also needs special web cam software. The more direct way is to get a camera with a built in server so you can skip the computer. Make sure the camera is rated for outdoors. Cheaper cameras can't handle bright sunlight.
Here is a link to a thread where I describe setting up my cam.
http://www.winnipesaukee.com/forums/...read.php?t=380
Good Luck!