So... Backlinks vs Social Signals where do you stand?

So... Backlinks vs Social Signals where do you stand?

I see many SEOs saying that in 2014 they will be dropping traditional back link building and replacing it with building social signals from FB, Twitter, Stumbleupon, Digg, etc etc as the effect seem to be more evidently effecting SERPs, Others, however, are sticking with back links saying they will never die. I know where i stand but what are your thoughts??