Lol no is a phrase that must be respected, it is for when you disagree with someone and want to win the argument no matter what. Lol no will immediately win any argument placed before you whilst irritating the other party. It may only be used once, or in quick succession to hammer your point in.
lvl 1 crook: oh my god you're actually the worst smash player I've ever seen lvl 40 boss: lol no
Example one-
Nooblet: Can I joinz ur crew?
Fwee: LOL NO.
Example two-
Person one: WHAR IS DA NULL CRYSTAL 4 THIS AREA??
WHAR IS DA NULL CRYSTAL 4 THIS AREA??
WHAR IS DA NULL CRYSTAL 4 THIS AREA??
WHAR IS DA NULL CRYSTAL 4 THIS AREA??
CAN SOME1 TELL ME PLZ???