Phelpsed (verb)
1. The act of being totally and utterly destroyed by your opponent.
2. To be horribly defeated
to the point that there was no purpose for your
participation in the event.
Refers to the 2008 Olympics in Beijing in which swimmer
Michael Phelps won eight gold medals, breaking a world record and decimating his competition so thoroughly that it required a word stronger than "own" or "pwn."