Basically saying fuck off, screw you, etc

This is a play on the phrase by-and-by which means: some future time or occasion.

By changing the spelling it implies that we are saying goodbye until some future time or occasion; til later on.

This is an especially useful phrase when you want to say goodbye to someone that has passed away.

what i would very much like to say to George H. W. Bush

When something you say can go both ways, either good or bad, like a bisexual.

Used as a responding word, like "lol, "lmao" and "omg I can't even". Figuratively meaning that your leaving, like you can't deal with what has been said.

Bye is a way to say get the fuck out

A simple way of concluding a conversation.