create something valuable so that people start naturally bookmarking and sharing your article/post/site
it's when you use social bookmarking sites for your "bookmarking" a story/post/page from your site/blog
Link bait isn't necessarily valuable. It can be controversial, shocking, funny... just things in general that somebody would say... Oh my god.. did you see xyz... did you see that leads to web sites linking to you
I've compiled 34 ways to understand this issue http://www.pachecus.com/34-ways-to-understand-the-importance-of-linkbait/ I hope helping you
link baiting just baiting your link. Please before making your own thread use the search button or google because they will be able to explain it much better instead of getting all kinds of mixed messages and people link baiting you with their blog posts.