A word that used to be used to describe a book, a movie or other work as timeless, great, and meaningful. Is now used by douchebags who combine it with "win" or "fail" to describe everyday things.
Guy #1: Hey dude did you see the movie Gladiator?
Guy #2: Yeah man that was an epic movie!
DBag #1: I forgot my wallet so I had to go home and get it.
DBag #2: EPIC FAIL!
DBag #1: I found five dollars today.
DBag #2: EPIC WIN!