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2.
When someone says something so off the wall you can't tell if it's true or false.
"Sarah said she slept with three guys last night. I think that's boolshit."
by Dubman25 September 15, 2009
 
1.
alternate spelling of "bullshit", popular with computer programmers
"this is boolshit"
by itchyscrot April 03, 2003