Theorycraft refers to any game strategy that exists only in theory and never actually put into action.
"Theorycraft" originated from the PC game Starcraft. The term was coined after countless new players would argue with each other about how certain strategies were superior to other strategies without actually putting any of these concepts into practice. This later evolved into a game in itself, albeit sarcastically. From Starcraft to Theorycraft.
Player_1: hydras n lings own firebats
Player_2: Pfft, theorycraft
A nerdy term relating to discussions of hypothetical situations in a computer game. Originates from the Starcraft community and was later adopted en masse by the similarly geeky Warcrafters.
Nerd 1: if ur a X n u Y every Z u fight u omgwtfpwn them every time, lolz!!!111eleven
Nerd 2: Well considering Z's don't exist yet, that's theorycraft
Nerd 1: I'm sick of theorycrafters, don't they have anything better to do?
Nerd 2: Not really
A term for the PC MMORPG for World of Warcraft. Similar to the Starcraft definition in that it is based off of theoretic strategies. However, it differs in that it is based off the formula behind damage, calculating how much the average damage of an attack or spell will do.
"GUYS! The new spell will do 234-270 damage!"
"Yeah I'll believe that when it isn't Theorycraft."