It’s just a matter of knowing who dictates the rules. Who saids is right or wrong? Who dictates is white or black?… Google, Yahoo, MSN?

We must question that, I think that the definition of black hat SEO Practices for the SE is anyone trying to take away a chunk of their earnings, nothing more black hat than Google Adwords Spam Program.

And thanks to both of you for the kind words.

I would add one small but important distinction.

In reality, both Whitehats and blackhats most probably make good money for their clients. This is of course called Return On Investment (ROI).

However, one major difference between Whitehats and blackhats in regards to ROI, is that the blackhats clients ROI will dry up or become negative due to search engines constantly devaluing blackhat techniques whereas the Whitehats clients ROI will continue on into the future due to Whitehat adherence with the search engines guidelines.

So, the small but important distinction is that in the long run Whitehats are out to make money both for their clients and themselves whilst blackhats are out to only make money for themselves.