It's an acronym for Just a Bunch of Chinese.
In China, human life is so light, so that you have to collect tons of bodies to use it.
"Severe train accident happend in China and it killed 39 people. But the next day, the line runs. What is 39 people for China government?"
Just a Bunch Of Cunts, derived from the geeky IT term JBOD (Just a Bunch Of Disks)
Not so much used in speech, as used as a codeword.
(in my crowded office) "This lot are JBOC"