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1.
"I have been trolled." An extension of the common internet acronym YHBT ("you have been trolled"), it indicates self-recognition that one has been suckered in to a spurious argument.
"...and another reason Mother Teresa isn't more evil than Hitler is... ah fuck it, IHBT."
by GhostBear March 11, 2009
 
2.
Acronym for "I have been told."
"Have you ever been told that you look like a monkey?"
"IHBT."
by aussieintn April 28, 2005