Used in reference to a person named Mike who uses Myspace all day long, even while he's at work. His love and obsession for Myspace is far too great for the mind to comprehend so an alternate universe is created and we call it Mikespace.
1. Mikespace can be used as a noun or a verb
Q. What is Mike doing?
A. "Oh he is Mikespacing again, has been for 2 hours!"
Q. Has anyone seen Mikespace?
A. "I think I saw Mikespace in the driveway throwing up."