A Term used by Cape Bretoner's and New Found Landers.
For example, in Australia they would say:
"How's it going mate?" or "It's good hearing from you Mate"
B'y is used in the same context.
"Your a fuckin idiot b'y"
Used frequently in New Orleans and maybe other places where people either A) have not learned proper use of prepositions or B) are speaking a version of English infused with constructs from other languages
Hey, they have a sale on ground meat over by John's Grocery.
It is a term we cork (ireland) people use when referring to each other. It would be the equivalent of 'homeboy' or 'homie' and so on..!!
2nd person: 'Naw by' (no!)
1st person: 'Story by?'
2nd person: 'S'crack?'