When something is outrageously funny and you need to use a stunning word , so everybody can think - " WTF is that word supposed to mean? Well, I don´t have a clue, but damn , it´s a fucking cool word! " So the word spreads among the society . Also used as noun when other responds/words seem to be too lame for using .
Bob: " Hey , look at that girl, did you see her face? Damn , it is so fucked up. Hilarious , isn´t it ? "
The author of "lolboat", Rauno : " lolboat . "