Smart relevant gradual linkbuilding seems to be the way to go. But really, it's all about testing because some fast or non-recommended link-building methods do work for certain people. However, in 2013 going forward, SocialSEO is becoming the new SEO and effective linkbuilding method. Getting other people to talk about your brand and share your content is the most genuine linkbuilding that can be done - which is why Google and other engines have started watching these all important social signals very closely.
If a site is moderated properly then spam should be minimized. Everyone likes to get some free link promotions but making requirements to get those links can help reduce the degradation as well.
Link building based on your site niche helps in your site ranking.
Originally Posted by TryLord
Is link building destroying websites?
Its possible, because there are spammer are trying to manipulate the rankings by spreading their links anywhere and sharing crap postings just to get backlinks from other sites.