1. To call someone out, usually in a public setting.
2. To say something about someone that the person wouldn't really want other people to hear.
EJ (trying to impress a girl at a club): It would've been really cool if you had been at that party last night. It was wild!!
Girl (impressed): Oh really?
Sean (EJ's roomate): Dude, WHAT PARTY?! You were home sobbin on the couch watchin The Notebook!
Girl (laughing): Damn! He just loudcapped you! Haha!
(EJ embarrassed)