A pitbreed is someone who smokes tobacco through a bong, only eats 2 minute noodles and drinks energy drinks to live. Also one to randomly be asleep or awake due to the hours of dedication to the latest decent video game.
A new word invented as of April 2005, it has spread rapidly among internet forums. It is a generic term used to show distaste in something or to describe someone as moronic. As the word is pretty new it has many interpretations, some people are even trying to turn it into a noun.