Using -b 0.0.0.0 on your server was the correct thing to do.
However, on your client PC, you need to point it at the server's address. Therefore, on your server use the ipconfig command to discover it's network address and use this value on the client instead of 127.0.0.1 or localhost.
127.0.0.1 (aka localhost) is a special network address private to every computer which basically references itself. You should not touch the hosts file and attempt to change this because it will break many things.