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What does it mean that I am your uncle?

It is an internet meme.

As an Internet slang, the extended meaning of this word is usually to praise one party and express contempt for the other party. To put it bluntly, you can never catch up with your awesome uncle. The meaning is closer to the Internet slang "I am your father".

"Geng" is a corruption of "哏" in Internet slang, meaning "a punchline, a foreshadowing, or something with special referential or ironic connotations." It often appears in variety shows and on the Internet, and also appears from time to time in daily life.