A newish term, named SEOicide, caught my attention via a WebmasterWorld thread. The thread discusses how an SEO has the opportunity to buy 70,000 links from a PR7 site for a great price. He asks if it he should do it.
Most everyone says, don't - you are setting yourself up for a penalty. In fact, words like SEOicide are being used to describe what you would do to yourself. But others are not convinced, they say, if the site will drive traffic to your site, then do it.
I would buy, if the direct traffic from those links brings you a profit. Otherwise it sounds very questionable a I would not sign any long term agreement/contract.
Anyway, back to the term SEOicide. I did some searching and it appears the Jane Copland of SEOmoz used the term on February 21st of this year in a comment on a blog post. So WebmasterWorld was not the first place it was used in writing.
Forum discussion at WebmasterWorld.

Comments:
Peter Davis
04/29/2008 02:35 pm
So is that all it would take to knock my competition out of the SERPs?
Barry Schwartz
04/29/2008 02:36 pm
:)
Billy
04/29/2008 06:49 pm
Doesn't this go back to the point that search engines have a hard time penalizing links? Otherwise all your competitors would have already been banned for a couple of Benjamins.
Rob Abdul
04/30/2008 08:49 am
The key thing here Gentlemen and Ladies is that this 70000 links form a single web site, form a good neighbourhood. As long as the links are relevant and it adds value to the user’s experience, it is not SEOicide. It is the PR7 site that will be penalised for linking out, not even the no-follow tag will help you there.