A common meme found on image boards such as 4chan. The term is usually depicted in a picture of an asian man with glasses stating "Wuts dat? I raff i ruse?" In Japanese, the "r's" and "l's" are interchangeable consonants when spoken. It is a play on a common meme "You laugh you lose" in a various image board to which 2 rules I shall not break. Most laugh you lose threads link to a youtube video of something utterly retarded.
Anonymous: ITT: You laugh you lose.
Anonyfag: Fuck, i lost...
Anonyfag 2: Wuts dat? I raff i ruse?