Otherwise known as chatspeak, a process of shortening words and replacing letters with different letters and/or symbols to supposedly make the typing process shorter. Lacks proper punctuation and capitalization. Hard to understand and a sign of idiocy when used heavily, but sometimes useful when in a hurry or text messaging.
Stupid: LYKE ONG!!!ONEONE11!!
i g2g to da stor 2day c ya l8er LOLZ
i @m 5o 1337 i pwn joo
Useful: Uh oh, I have to go answer the phone. BRB.