Is links to loose their value as google will not update PR??

[motionz]

Google has announced 'there will be no more Page Rank updates in the future', so I was just wondering that. Are the backlinks going to loose their value by now?

No, I don't think that backlinks are going to loose their value right now. As Matt Cutts had said in one of his videos that backlinks have some more years left to their life time.