How is value stored on the internet? It's simple.
This is, of course, obvious to any SEO.
For all the intellectual pondering over the attention economy, I am at least sure that links are the currency.
The proof point that inspired this post: Danny Hillis' new project: Freebase. They're building a structured database of free information on the web. Great stuff for splogging, spammers, etc. Might be useful as an alternative to wikipedia someday.
And how does Freebase get compensated?
"We only ask that you link back to us."