what is bookmarking?

Social bookmarking is a method for people to shop, organize, search, and administer “bookmarks” of web pages. Users save links to web pages that they like or want to share, by means of a social bookmarking site to store these links. These bookmarks are usually public, and can be viewed by other member of the site where they are stored. example of social bookmarking sites include Reddit and Delicious
 
Does social bookmarking really affect a site's ranking? Because as far as I know, Google automatically ignores Web 2.0 sites and social sites.
 
It may happen to you that you stumbled on a very good website and wants to come back on it, but wants to keep its URL safe somewhere so you don't have to search it again, here comes bookmarking for your help so you can easily manage your favourite links, every browser has this facility for you.
 
If you think you have an interesting, intriguing or controversial topic then doing social bookmarking will increase your chance to generate traffic on it.
I've found reddit and stumbleupon helpful on that.
 
Bookmarking is a centralized online service which enables users to add, annotate, edit, and share bookmarks of web documents. Many online bookmark management services have launched since 1996; Delicious, founded in 2003, popularized the terms "social bookmarking" and "tagging".
 
A social bookmarking service is a centralized online service which enables users to add, annotate, edit, and share bookmarks of web documents. Many online bookmark management services popularized the terms "social bookmarking" and "tagging". Tagging is a significant feature of social bookmarking systems, enabling users to organize their bookmarks in flexible ways and develop shared vocabularies known as folk simonize.
 
Social bookmarking is a way for people to store, organize, search, and manage “bookmarks” of web pages. Users save links to web pages that they like or want to share, using a social bookmarking site to store these links.
 
Social bookmarking is a user-defined taxonomy system for bookmark s. Such a taxonomy is sometimes called a folksonomy and the bookmarks are referred to as tags. Unlike storing bookmarks in a folder on your computer, tagged pages are stored on the Web and can be accessed from any computer. Technorati, a blogging site, describes the system as "The real-time Web, organized by you." Web sites dedicated to social bookmarking, such as Flickr and del.icio.us, provide users with a place to store, categorize, annotate and share favorite Web pages and files.
 
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