Abstract-This paper aims to provide an analytical view in estimating the cost of Spam 2.0. For this purpose, the authors define the web spam lifecycle and its associated impact. We also enlisted 5 stakeholders and focused on defining 5 cost calculations using a large collection of references. The cost of web spam then can be calculated with the definition of 13 parameters. Detail explanations of the web spam cost impacts are given with regards to the main four stakeholders: spammer, application provider, content provider and content consumer. Ongoing research in developing honey spam is also presented in this paper.