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Of course no one is to use it at formal parties or something alike.

But at my place it's not considered very rude. It's just a word from a young guys' lexicon. However, I doubt its origins...

Сайбот, забей на это слово. В этом контексте оно может означать что угодно: "забудь" (fugged abuht), "расслабься" (tek it eazy), "всё путём", etc.