Subscribe to AfterDawn's weekly newsletter.
In the Internet piracy scene, this term means a release of a movie, or some form of video, that has been taken from a VHS source. It has been captured and then re-encoded to a digital format. Some groups are dedicated to releasing VCD copies of movies that haven't been released on DVD as of yet.
Mainly sports videos, and XXX releases are considered VHSRips in the Internet piracy scene.