Linkbaiting is the newest effective way of generating tons of backlinks as this one naturally attract backinks,. It can also boost your site's traffic,.

The main thing on this one is other readers would place your link to other site as they found your content useful and interesting.

Matt Cutts define link bait as:
"interesting enough to catch people's attention"...

this technique is not just after backlinks but also for traffic generation,. better apply it on our site or blog

Linkbaiting? Is that like using Digg or Squidoo? If it is, that can be great for your site, especially if you can get a lot of people to approve your article.

It seems that good content would do the same thing. I thought linkbaiting took more than having content that people wanted to link to. The material had to be purposely controversial or challenging enough to trigger a gut reaction creating more than just a link but raising the likelihood the entry linked to would find its way to other blogs as rebuttals and reactions spread.

No?

Linkbaiting is really good effective technique to build quality back links.

Not entirely, what if someone give you backlink that has different niche? Relevant backlinks with trustauthority from google the better. As for linkbaiting, why not try "intended" negative critic to boost a more debatable topic, people will always comeback to re-comment on different opinions.