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lulz rate
(Verb) Laugh Out Loud - As used in plural tense
Usage: OMFG! Lulz!

lulz rate
(Noun) As stated and defined by Fox News, a corruption of L.O.L., which stands for laugh out loud. Usage of this term has been greatly increased by the Fox News report against Anonymous, an organization of apparent "internet hate machines."

The word has evolved to the point where it is no longer a verb, but is now a noun.
Usage: I did it for the lulz.

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