It means just ''damn'' or ''damn it'', usually said when you are angry, disappointed or just very excited by something. It's not the equivalent of the f-word, even children can use it.

as u have already guessed it doesn't mean "pancake". the word "Блин" is derived from other Russian obscene word, which is similar to "Блин". But "Блин" doesnt sound so impolite, therefore it is often used among Russians. Very similar to English "F**k!"

"Блин" can expresses a wide range of emotions from admiration to dispair depending on situation and intonation, for example: 1. Imagine that you went bread shopping, and on your way you noticed that you had forgotten to take the money. You say “Блин, а кошелёк-то!..” (“Блин, my wallet!..”) 2. If the doors of the train close in front of you in the tube you say “Блин!” ("F*ck!") 3. You open your e-mail box and you see that it is full of spam messages. You say “Блин, достал уже этот спам!” (“Блин, I am fed up with this spam!”) 4. If you envy your friend who says that they have visited Pink Floyd show, you can say “Блииин! Круууто!” (“Блииин! That's so cool!”). 5. You are stuck in a traffic jam: “Ну всё, блин, застряли” (“That’s it, блин, we are stuck”). ... and so on =)

Hi! The first place belongs to Yana without doubt. Aleksey took the second one. Denis and Nikita are great guys too but ... There are similar situation like with зашибись. You are learning Russian so profoundly))) And I send to you a message about it))

It's not exactly russian swearword, although it's considered a bit impolite to say it in public. However, as a very emotional people we often say Блин whatever happens just to express our excitement or disappointment.