On his blog, Matt Cutts introduced a form to report websites/webmasters who are spamming with links. Link spam is pretty much anything (according to Google) from links placed by paying for them, to comment spam (where people or programs submit hundreds of random comments to blogs). The link is http://goo.gl/linkspam.
“Be sure to include the word “linkspam” (all one word, all lower-case) in the textarea (the last field in the form).”
I’m all for keeping the web clean. If Google does want link spam tripping up their algorithm, I actually think they have the right to ask for help. It’s their engine – they can do what they want. But the beauty has always been that Google was supposed to be good at figuring out their own link spam. I mean, I never worried about link farms linking to my sites. It happens! So now should I worry that Google will think it’s link spam from my site? If there’s a lot of it, will they react differently than they used to (which was to just cut the link juice flow)?
I guess if you have a competitor who is already killing you in the rankings, why not buy an automatic blog commenter and link spam the hell out of the blogosphere? Point the links to your competitor. Then call Google and call the competitor out as spammers. Not that I recommend it – but it’s something I’m sure is being tried.