An exclamation, indicating misfortune of another person. Might be used in the same way as "unlucky."
"My bus was late this morning." "Wah."
"I spilt my drink all over me!" "Haha, Wah!"
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pictoral / figurative for the victory sign (or "v sign") and thus
1.) used in a similar meaning to owned / pwned as a sign of victory (e.g. when defeating an opponent etc.)
2.) as an expression of great joy towards someone who just managed to solve a very difficult task or excel in a very important situation --> see w00t, awesome (non-sarcastic) and related expressions
To emphasize the effect or enthusiasm, the letter can be repeated several times.
"I just kicked that stupid scammer's ass!"
"V!!"
"I passed my exams with top grades!!"
"VVVV"
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