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<edit>They advertise a link exchange service for increasing traffic and link popularity.
[edited by: ciml at 9:37 am (utc) on Sep. 25, 2002]
[edit reason] Paraphrased identifiable text at member request. [/edit]
Search the keyword "<snip>" on Google. The currently number two site in the serps is titled "<snip>." All it is is a reciprocal link farm. There is some other way out of date content leftover from another day but the site is primarily a link farm. Everyone listed there, including me, knows that. But for a very long time (years) this site has held the number one or two position in the serps. It's a PR7 and was even an 8 for a while. You get complete control over your anchor text so the pages are filled with nothin but superior keywords. Almost all the main sites in the category use it.
My point is that if this site can sit atop the serps and carry a PR7 or 8, why worry about setting up a site whose purpose is a link exchange. If the theme of your site was SEO and you sold SEO services, you'd probably have a problem with a link farm. But Google does not do a great job of finding the link farms.
Of course if they did find this one and determine that it was a farm, it would hurt me directly. But it would also hurt directly most of the good sites in that space.
[edited by: ciml at 9:51 am (utc) on Sep. 25, 2002]
[edit reason] No identifiable sites please. [/edit]