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1. Sitting on a toilet and unloading fecal matter into the bowl.
2. Using the restroom (#2).

The term "platinum" derives from an urban clothing line "FUBU". The name itself sounds like something that comes out of your ass (feces). FUBU then upgraded their clothing line to "Platinum FUBU". Hence, an upgraded shit. So, when you drop platinum you are unloading something really nasty. The term became, "dropping platinum fubu". It was too long to say, so it got shortened to "dropping platinum".
"Hold up, I gotta drop platinum."

"Wassup, what you up to?"
"Chillin, droppin platinum"
by Kobe Nol March 10, 2008
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Jun 21 Word of the Day
A person with an outwardly dominant, masculine, or aggressive personality, but who also enthusiastically takes on the submissive or "bottom" role in the bedroom.
"I'm tough, Mike! I never give an inch! I'm partial to taking a few though..."
"Ah, you're a real pipehitter."
by Skeletalchemy June 15, 2021
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