Spamming web 2.0 with links still working?

Money Site <------ web article with keyword anchortexted pointing to your money site <------- blow mass of links to the web article.

Is this a dead strategy? Can google penalize your money site even these links don't point to it directly?

Sry if my questions are too nooby.

Put a shield between the web2.0s and your pure spam, like a decent set of contextual links from open platforms.

I prefer to not quite 'spam' the web 2.0s. The stuff might not be as high quality but I'll still try to put decent stuff (relevant or at least niche related profiles and comments, still can be automated but not just crappy random ones, and even more web 2.0s pointing to it, although I'll use spun content instead of handwritten - I also like handwritten very high quality keyword researched web 2.0s for my tier1, done properly these articles can rank for long tails while being highly relevant to your money site and if you're spending the effort to build links to them anyways why not, make it good and readable, give it a chance to rank and bring some traffic as well? Plus its better for link juice this way anyways). I think pure spam at any level is a bad idea, even if you aren't getting penalized now as we've seen over the years you probably will at some point. If all the links pointing to your tier 1 web 2.0 article are spam and get penalized what happens to the authority and link juice you were counting on from your tier 1 web 2.0s?

Wowhaxor is right on the money.

What I do is this:

Tier One - High Quality Contextual Property (Web 2.0 / Guest Post / Edu Contextual / PBN) which is niche relevant targeting a long tail KW in my niche.

Tier Two - Layer of Contextual links in the form of Article Submission / Web 2.0s with highly spun, unique and readable content targeting the aforementioned longtail, money site KW, and naked URL OR 301 URL Shortener.

Tier Three - Blog Comments, Social Bookmarks, and a lower volume of high TF / PA / DA / PR spam links.

This always does the trick to rank up my money site(s).

Dont worry nothing will happen,only go with anti spam strategy.
See use anchor text for your money site and
also one wikipedia link on any keyword,use one YouTube video,2 images which is the best way to look your web2.0 natural.

Woooowwww this question has NEVER been asked on BHW 0_o

Use the damn search

I suggest investing your time elsewhere, but if you must, try it yourself. Everyone spams differently and I wouldn't risk my livelihood on what I read here.

does OP know what google penguin is ?????????????