Abreviation of the popular file sharing program Kazaa Lite K Plus Plus (K++). A version of Kazaa without spyware but with added tools to help you download faster. Still available, you just have to look hard.
Comes from the word "chill". If you seperate the beginning and end of the word, you get chi-ll. The "chi" at the beginning is obviously where the chi of 'chi dubs' comes from. Then, you have the "-ll" end of the word "chill" since it is a double l, you just abbreviate this and simply call it dubs, a shortened verious of double. Combine the two and you get Chi-dubs.
What are you doin right now?
Eh, just chi dubs. you?