Link Building is it essential to websites?

Well as i have learned since my first website YeheyGoogle.com is how to get good/quality links from high ranking sites. From all the information that I’ve got from chatting with SEO’s is LinkBuilding is one of the best way to get traffic(visitors) onto your website. Many have already mastered the way to link build, but for me still struggling to find new ways on how to get traffic on my website. The World of SEO is really a wide to ever explore on one click of a mouse. It is better to get Good Quality Links or Quantity. Quality Links is an advantage, because the more high ranking site link to you and the more visitors you get with a reciprocal linking site it can also boost your websites Page Rank.