Refers to somebody who is the top dealer. The king or god of based(cocaine).
Person 1: Who's that?
Person 2: He's the basedgod around here.
lil b will be a historical inspiration and monument in 100 years. he will be so inspirational that people will create a new sort of dance-style called lil bance, which becomes the most popular dance-style in the world the year 2132. lil b will exist in the new bible as it gets confirmed that lil b actually is jesus reborn to create history that will last until our universe implodes. #based
oh my god basedgod you can fuck my bitch basedgod