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1.
A pastebin is a type of web application that allows its users to upload snippets of text, usually samples of source code, for public viewing. It is very popular in IRC channels where pasting large amounts of text is considered bad etiquette. A new trend is that users use pastebins to post Twitter messages that contain more than 140 characters. A vast number of pastebins exist on the Internet, suiting a number of different needs and providing features tailored towards the crowd they focus on most.
Hey Mike, can you "pastebin" that document please?

John can I send you this text file? Sure, please just "pastebin it".
by Godius January 16, 2012
 
2.
An IRC channel that accepts users pasting lines and lines of data/coding/statistics. Generally annoying to most users.
The IRC channel #pastebin gets so many users posting 20 lines of code. How can people stand it?
by DarkPhoenix January 04, 2006