I bet many on HN will have the domain buying fetish. i.e) You think of a side project and immediately buy the domain for it. There is also the practice of simply buying a domain just because you thought it was cool. I am one of those people and my reasoning is that if i spend some money and buy the domain, i will have the motivation to get started on the project and it has worked at times.
On the other hand, i have accumulated many domains which seem pretty useless now! I do renew some domains hoping that i will work on it some day. How do you tackle this?
I personally own about 50 domain names...most that I bought with the intention of using for a specific project that never materialized. With a handful of them I paid a writer in the Philippines to write a dozen articles for each, and I threw together simple wordpress sites with RSS autoposting and they make about $10/mo each, which pays for the renewal fees for all of the other domains.
I suppose in theory I could register 1000 domain names and repeat the process of paying for content, setting up wordpress RSS autoposting, and possibly make $10,000 a month, but I never seem to get around to it, and there's the possibility that it won't be as profitable as I think.