I think it's an important distinction to make when describing domain name disputes.
If you bought a domain name for the sole purpose of sitting/squatting on it until you can find a buyer who will pay significantly more than you did, than you're a squatter.
We aren't talking about land here, we're talking about domain names. A domain squatter has legitimate right to the domain names (s)he owns. Domain squatting is neither illegal, nor contrary to any rules.
I happen to despise the practice, and wish ICANN implemented measures to prevent it occurring.
> I've bought a lot of things with the sole purpose of selling it for more.
Try buying a lot in a modern real-estate development in a developed nation and see if you can sit on it. They won't let you, because your empty lot lowers the value of all the properties in the vicinity. They won't let you just throw up a lean-to and call it a building either. You'll actually have to build a proper house that not only follows all relevant codes but that actually looks good.
Generally speaking, domain squatting is a shitty practice by shrewd business-people who found a way to conjure big bucks out of thin air... ie. without creating any value whatsoever.
> Nothing wrong with that.
That's like, your opinion, dude.