[Naeem]

It's a bit vulgar, but hilarious!

http://www.funnyjunk.com/pages/history.htm
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http://www.annisnaeem.blogspot.com/

[FallDamage]

As I understand it, it comes from the acronym 'Fornication Under Consent of King' as a term used to describe allowing subjects a special dispensation to have extra marital relations with indigenous populations under their rule in colonial situations, like in BraveHeart when the English lord was permitted his special wedding night first man in the hole privilages for every new Scotish marriage.

[Brake Check]

It is very old..and has always been taboo. Very few writers used it. Shakespeare did not. It is older than William Wallace.
I quote..
"The root is undoubtedly Germanic, as it has cognates in other Northern European languages: Middle Dutch fokken meaning to thrust, to copulate with; dialectical Norwegian fukka meaning to copulate; and dialectical Swedish focka meaning to strike, push, copulate, and fock meaning penis. Both French and Italian have similar words, foutre and fottere respectively. These derive from the Latin futuere."

[Brake Check]

The fact that the F word is in common usage may mean the word is going to be discontinued. It has lost meaning..it is just a sound people make like Whoops and Hmmm
The reason it was not used is because it does not mean "sex" or "copulation" or even "sodomy" or "bestiality"..note that none of those words, even the more colorful venacular terms for the same acts have the same taboo. The "F" word has a special taboo..I believe this is because:
The "F" word has a connotation of sex..with specific overtones of violence and contempt that most people find offensive..but the word is now used casually. It once had a meaning in context..rather than, as it is used now, as merely a sound to express annoyance or displeasure. It has lost meaning and power..
That is my thought on the F word.