A person who has no strong sense of belonging in the "real world" and spends a significant portion of his or her time on-line. By spending time on-line, the internet hobo builds up a network of contacts and virtual hangouts and develops an on-line home, basically by connecting with other internet hobos. (Incidentally, e-bum.com is a place for internet hobos to hang out.)
Your friends all move away or you move to a new city. The people you meet in real life are not your type of people. You work from home or have no real way of making contacts in your everyday life, so you turn to the internet for companionship. You are an internet hobo.