Blingtard is a contraction of bling and retard. And is a response to the over abundance of bling on some persons, thinking that more is allways better.
This word originates from the virtual world Second Life, where one subculture is white boy gangster wannebe's Role Playing gangsters with to much Bling. But since the Bling in RL is getting to absurd levels, the word is starting to being used for RL bling retards as well.
Dude, look at that blingtard.
A person who wears so much bling, the weight and shine has greatly lessened their intellectual abilities.
I had to steal some shades to protect my eyes from the SHINE of that skanky whore; she's a total blingtard!