It was so effective because it was based upon the idea that a link could be seen as a vote of confidence about a page, i.e., it wouldn't get links if it didn't deserve to. The theory is that when someone links to another website, they are effectively saying it is a good resource. Otherwise, they wouldn't link to it, much in the same way that you wouldn't send a friend to a bad restaurant.
http://longbets.org/user/ronaldomz/
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