alt Hacker Newsbold-faced lie is just the usual English drift that was actually questioned as incorrect when it first surfaced. If a lie is bold, you don't have to suggest that the user's face is bold when doing it. You can in thirty seconds of google searching find numerous sources explaining that "bold-faced" is a malapropism.
It's the usual English drift perhaps, but "bold faced lie" has been used since the 17th century, which is also apparent from "thirty seconds of Google searching". Three hundred years is enough usage for me to count it as correct.
On a side note, "bold faced" does not mean the persons face is bold, only that it is said boldly, which implies a level of rudeness that "bald-faced" or "bare-faced" does not.