We all knew one. That kid who always told lies about video games. Maybe they knew a cheat code to make Lara Croft naked, or said that something special happened in Sonic if you collected 1000 rings, or that there really was a Carcer City in GTAIII that you had to be awesome to get to. Maybe you were that kid.
Do video game lies arise out of a desire to trick people, or because the liar wants to look cool? We may never know, but we can record all of these lies for posterity. Years from now, historians will be able to observe this unique bit of video game culture.
NOTE: This is not a wiki for funny lies about video games that you just made up, or satirical articles about fake video games. Try Uncyclopedia for that sort of thing.