I rent a server and I rent several DNS names. Unfortunately, neither of these things are protected in a way that would prevent them from being taken from me, but it's not happened yet. Through this, I'm able to host a website, a Gopher hole, a Finger service, my own email, and I'll host FTP, IRC, and other things as I want to. There's not much of a limit. This is nice and freeing. I decide how everything's presented and done; I use my own server software in some instances.
I can agree that having one's own website is an introduction to this manner of freedom, though.