I've been reading Yaro Starak's free book "Blog Profits Blueprint," in which blog carnivals are mentioned as a potential source of traffic.
I went on Youtube and watched this instructional video about submitting blogs to carnivals at blogcarnivals.com. The person who posted the video did a screencap of him using the site, and I noticed that on the list of blog carnivals, there seemed to be a new carnival happening every day. This was in 2008.
Anyway, I visited the site today, and I noticed that barely any carnivals were still active, and that most had had their last carnival more than 2 years ago.
So, am I wrong, or is this method of traffic building dead?