Lots of new Wave users asks how to link to other waves within a blip (a blip is a single message, think of it as tweet on Wave). There are atleast three different ways to do it.

a) The simplest one is to just search for the wave you want to link to and then use drag & drop from the search result list into the blip you edit. The title of the wave becomes the link title.

b) Copy the URL and eventually trim it, the URL changes when you opens new waves doing search and so on. Use the URL with the Link tool.

c) Copy the Wave ID from the URL (in Wave "dev preview" the developer sandbox there is a menu item which gives you the Wave ID) and use the Link tool which also accepts Wave IDs. A Wave ID could look like "googlewave.com!w+6zrEX-l6r". To check if you got the correct Wave ID you could do a search like "id:googlewave.com!w+6zrEX-l6r".