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An Oldfag (also known as Elitist Asshole) is a user of an online community who has been with the community a considerable amount of time and won't shut up about it. Much like the old men that hang out in front of the liquor store, Oldfags harp on and on about the good old days and how things used to be. Oldfags generally consider themselves better than everyone one else, sometimes even people outside the community, because we all know being a member of Newgrounds or Deviantart for six years makes you a winner in the real world. Some Oldfags become even more Oldfaggy by harassing noobs if they dare to speak. It is possible to be a helpful senior member without being an Oldfag.

The opposite of an Oldfag is a Newfag, both terms are used on imageboards like 4chan.
I would have asked for help with the frames problem, but the only ones who know anything are oldfags.
Oldfag by Waru December 26, 2007
A haggard, perpetually grumpy, good for nothing elderly woman.
Gertrude: "So Frank, did you hear about Walt's little doctor's visit? Seems the rectal examination made him a little bit squeamish. Let me tell you..."
Walt: "For Christ's sake! Shut up, you old bag, and grab me a cold one!"
old bag by Nick D August 19, 2004
You are an old bag, with old bag titties.
Old bag by goeatbugs April 21, 2015
grumpy old bat who doesnt do anything for anyone
Mrs keen, jeez your an old bag!
old bag by Anonymous November 12, 2002

Oldmageddon 

The end of the world as a result of Baby Boomers reaching senior status and destroying society due to a failure to realize their increasing inability to properly function in many ways; like driving a car, for instance.
Oldmageddon surfaces every time an old person gets confused and drives their car into a crowded market or off a cliff.
Oldmageddon by BVick February 4, 2010
A term used on imageboards and forums to describe users and members who have been there from the start.

With regards to /b/, they're the only reason /b/ existed long enough for the newfags to ruin it. We don't want to explain memes to you or guide you away from the trolls. If you don't want to be called a newfag, then sit back idly until you're accustomed to our way of life. Then, an hero.
NF: /b/oxxy is our queen.

OF: Sage. Right fucking now.

NF: Stfu oldfag!

OF: ...Nigger.
oldfag by pseudonon September 23, 2009
There's no bag like an old bag, there's no bag I know...

Every hot young babe eventually in time becomes an old bag.
Most old bags belong to the bitchin' and moanin' (B&M) club.
old bag by Jimbo Creamer July 25, 2010