Mostly used for slang for many different meanings. Most popular, to get better of/accomplish something. As well be interpreted as to "fuck"/or get rid of something.
Person1: She likes being balboa.
Person1: I just balboa that shit
Person1: Man I really need to finish my homework.
Person2: Balboa that shit man.
It's also the name of Panama's currency after the 15th century conquistador, Vasco Núñez de Balboa.
usually the user of the name is not actually that hard at all, they are usually, infact a pussy.