What Does It Mean To Be Shy?

I have been known my whole life as a person who is shy. I was talking to my friend Jeri the other day and we were talking about what it really means to be shy. I decided I would look it up on the Internet and this is what some people had to say about being shy.
1. A person that is usually quite and secluded especially around new people. They are sometimes afraid of saying there opinions for fear of what people will think. I don't think they have low self esteem, I mean they could but I don't think all "shy" people have low self esteem. They can also be very unsure about there opinions or what they want to say.
2. One who is afraid of being ridiculed or rejected (fear of failure/fear of people) or one could just be appearing shy because they can't or won't look beyond themselves and look outward to what someone else may want, need or have to offer (self-absorbed).
3. Being socially defunct.
I don't think I'm shy, I just don't like speaking in front of large groups. I may be a little quieter than most people, but I don't think that makes me shy. I'm not afraid to speak my mind and I don't care too much about what other people think about me. I don't think I have low self esteem or that I'm self-absorbed. I think people have been calling me "shy" for too long. I may be a little quiet, but I'm not shy!