I own my own domain in my name as a .com, as in frankpetronio.com. For a few years I also owned frankpetronio.net but I let my ownership expire last year because I had no real practical use for it.
I like to keep track of my search engine results since clients will find me that way, or maybe they will check me out? If I see anything negative I try to chase it down and remove/resolve it, seems like common sense and good business practice.
Checking my name with a search engine producing this interesting result - someone, obviously Chinese, purchased my .net domain and populated it with random popular clickable text links to other text based pages that look to be part of the same origin. By being so search engine friendly, this page now ranks higher than all but my primary website (Third out of hundreds of results!), yet the page has nothing about Frank Petronio in it, other than using my name in the text and code. I've translated it and it is all fake and pointing to other bogus pages generated on the fly. There is no real content or useful purpose.
What do you think this means? Is it some sort of scam that Chinese hackers will use to extort American businesses to resell them their alternative domain names back to them at inflated prices? Does it mean everyone with a business that wants good search engine results will have to preemptively buy every possible alternative .biz, .edu, .de, .ca... etc... hundreds of alternative suffixes?
Or is it even more devious than that, some sort of hacking bad guy activity? Or some new way to create spam, or perpetrate fraud?
Will ICANN or some authority put an end to this? Can they?
Will the search engines figure out how to filter these bogus sites out?
I'm not up on the tech, I am not sure of the reasons, the issues, or solutions but even if I did buy up my alt .net domain, what's to stop them from doing the same thing with some other suffix? So I buy back myname.net, they'll just buy another suffix and do the same thing all over again, right?
It's not a big issue but it is troublesome and annoying, and if I were a major web presence it would be a more serious matter. Even for the end user, they don't want bogus sites cluttering up their searches. What do you think will happen and is there anything at all I can do?
I've seen a lot of old domains go to China and sit unused, but I thought it was just speculation so they might sell some marketing name for a high price - remember domain name speculation was encouraged by GoDaddy and such. How much is it costing them to purchase millions of empty domains? I bet it's not $7.99 each.... How do they make any money from doing it, i.e. what is the business model?