Domain Parking, which is the practice of buying domain names that sound like they might be valuable, and then sitting on them for years hoping some sucker will pay you thousands of dollars for them, has ruined the internet namespace. Millions of excellent domain names that should have been sold to the first person with a real use for them, are instead blacked out completely because nobody is ever going to pay $10,000 or more for them.
Why is this practice allowed? That’s a good fucking question. ICANN, “The Internet Corporation for Assigned Names and Numbers” is a regulatory body which is supposed to solve problems like this. ICANN was founded in September of 1998, it is now August of 2015, and Domain Parking has not been addressed at all.
I decided to write a letter to ICANN, using their feedback address. Here is that letter:
My Letter to ICANN Re: Domain Parking
Why do you allow people to sit on useful domain names when they have no intention of using the name for anything except to sell it at a later date?
This is a crooked business practice and it should have been killed years ago. Have there been any studies to see what percentage of useful domain names are completely wasted because of domain squatting? I bet it is more than 50%. I bet it’s close to 80% or 90%, because the practice has been allowed to go on for years.
If an advanced race were to look at what we’ve done with the internet, we’d look like a bunch of retards. You’re supposed to regulate this, so why aren’t you regulating it? Nobody is ever going to buy a domain name for tens of thousands of dollars. Squatting has destroyed the addressing namespace of the internet, and I blame ICANN for taking no action to fix this. Shame on you.