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The difference between tyme and time is that t"i"me refers to the time of day as t"y"me refers to a specific action that is going to take place.
time- what time is it? 8:35
tyme- what tyme is it? its smash tyme :D
by butt slut October 11, 2007
Having a good time. Usually with the help of an abundance of women and alcohol (and possibly other mind altering substances).
John: "Man last night was pretty dope.."

Brian: "Yeah man I had a tyme!"
by NF709 November 02, 2010
An unshaven anus, usually belonging to a woman.
'tyme's 70's porn was so gross; all the women had wolfholes
by Titties Mc. Gee October 22, 2007