eight mile
In reality, the above definition is wrong, where "Eight Mile" is not a term to describe a "wanksta" but rather a name of a road in Detroit, Michigan.  The way it is used above was most probably obtained after watching the movie "Eight Mile", which follows a young white male trying to make it in the rap music industry.  Eight Mile Road is the official name of the street in Detroit, and it is supposedly known to segregate between whites and blacks of Detroit (either race is not supposed to cross it--border of each race's territory).
Eninem plays the young white male "Rabbit" in the movie Eight Mile.

White male #1:  I want some beer from that store across Eight Mile, but they wouldn't let me in.

White male #2:  Yo, didn't you know that the other side of the Mile is not permitting white folk?  Just stick to this side.