This is simply a place-holder version... someone make this look better, please?
This concept is central to the "culture" that is anonymous, be it anonymous associated with Project Chanology and Why We Protest, or Anonymous associated to the various internet message boards known collectively as *chans, such as 4chan, 711chan, 420chan and so on.
Lulz is basically an altered version of the term "LOL", meaning Laugh Out Loud, an abriviation often used to express mirth.
Amongst Anonymous Lulz takes on the meaning of anything funny - anything that will make you go LOL.
Equally it is also often refered to as the reason anonymous does anything, birthing the term "I did it for the lulz".
I did it for the lulzEdit
Central to the philosophy of anonymous, if there can at all be said to be such a thing, is the term and phrase "I did/do it for the lulz"
This especially means doing something because its fun. equally, it can be used an excuse not to do something not funny.
Relation to Why We ProtestEdit
Many anonymous protest the cult of scientology for the lulz, seeing as how the cult, to many anonymous, spews a seemingly endless amount of ridiculous and laughable statements, as well as the actions of some of its members in vain attempts at stopping these protests.
An example of this:
L. Ron. Hubbard stated that smoking is good for ones health, or that one would be inclined to get venereal diseases (STDs) if you didn't have sex. Such things can be considered lulzy since they, to many, would seem silly and stupid, yet are sacred scripture to the cult of scientology.
Equally, then the cults handling of criticisms is often lulzy, as it utterly fails to work as intended, and occasionally ends up making the cult look even worse. See Bullbaiting.