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1.
to rat someone out.

Joe dropped a dime on Tommy to the police to collect the reward. Joe dimed Tommy.
comes from the days (up until the '70's) when it only cost a dime to use the payphone to make a call - in this case to the police.
by word cracker001 July 25, 2008
 
2.
A high decibel level on a stereo.
We were cruising down Bathurst Street with the stereo dimed, and it was just then that we saw the kitty cat.
by Grosse Douceur September 05, 2006
 
3.
It has several meanings: drunk, high, tired, out of it
"I can't remember 1989
I can't remember what you look like
Cause I was dimed
Wasn't the whole world at the time?"
From the Matthew Good Band song Sort Of A Protest Song
by devilonrollerskates November 13, 2005
 
4.
To Set The Control's Of A Guitar Amplifier In A Way That Is Reminiscent Of The Late Great Dimebag Darrell's BuzzSaw Guitar Tone. Which Is, Boosted Bass, Heavily Cut Mid And Boosted Treble And Prescence.
"Hey Man,, Your Guitar Tone Sounds Like An Acoustic Through A Marshall Man, You Need To Get That Amp Dimed Up Man!!!"
by AshpashSLAM March 20, 2009