A catch-all term for bullshit in the martial arts community. Bullshido comes in various degrees of severity, and what constitutes bullshido is often contested. This term, along with McDojoism, is often used by proponents of MMA to describe the traditional arts (especially as they are practiced in the states).
Bullshido.com (mcdojo.com) is often cited as the origin of this word, but this is not likely (as the word was in common useage before the site began).
1. Ki energy is a giant load of bullshido.
2. McDojos often sell bullshido.
3. The 'Yellow Bamboo' cult is the epitome of bullshido at its very ugliest.
4. There's no room for bullshido in MMA.
5. There's plenty of room for bullshido in Tae Kwon Do.
A martial arts school that puts the profit motive as their highest priority. This inevitably leads to a watering-down/bastardization of the art which is the most common source of fresh (non asian-superstition derived) bullshido.
Most schools in the states are McDojos, though no school (or student of a school) will admit to being a McDojo. The exact qualifications to be a McDojo are thus highly contested. However, one thing is for certain: every Tae Kwon Do school is a McDojo (don't try to argue, you know it's true).