LOL, an acronym with the preferred meaning "laugh out loud", commonly used online between friends and 0wn3d n00bz alike. However, another meaning for this overused word is also "lots of laughter", which makes far more sense, and is the preffered definition of middle-upper class surburban users.
In an analytical sense,'laugh out loud' appears to be an oxymoron, as technically the logical way to laugh is audiable, unless the individual is suffering either constapation or severe anal discharge. The definition "lots of laughter", is therefore further proposed.
"Lollage at the frikin' n00b!" (commonly said to 0wn3d behz who get p0wned, even though they say they are good at the particular activity which to they are challenged.