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1.
Like cutting edge, only it went slightly too far. Used to refer to technology that is so far ahead of it's time that it doesn't yet have any practical application.
For example, Microsoft Longhorn is bleeding edge because the suggested specs are so ludicrously high that nobody would be able to run it.
by do I have to put something here? October 01, 2004
 
2.
Bleeding edge means very new technology. More than Leading edge, Cutting edge or State of the art. A technology which is so new that using it still hurts you (mentally). Produkts which needs more work on it to be practical and useful.
My new cellphone is bleeding edge. It came with Android 10.0.

My Mac is bleeding edge.Hopefully with the next update it gets useful.
by Southern Visitor June 12, 2014
 
3.
So cutting edge, it hurts. Can be applied to fashion where one takes extreme mesures to appear fashionable or part of the beautiful people.
'See this girl with the stilettos? she is so bleeding edge she can't even walk properly!
by TomZed May 14, 2009