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A term used when you are laughing insanely hard. Similar to laughing your ass off, you are busting a nut, because you are laughing so hard at a persons joke.
Jeff: "Damn, look at her camel toe gobble up those tights!! Hahahahah"
Carlos: "Oh my god! I am busting a nut laughing right now!!"
by Alex22uc August 16, 2012
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