Acronyms have always been an integral part of computer culture, and they have since spawned a new language on the Internet.
Commonly thought of as a series of letters that make up a 'word' there is a distinction between acronyms and shorthand.
The difference between acronyms and shorthand is that with acronyms, (for example, 'ESP' is an initialism for 'extra sensory perception' whereas 'esp. The online practice is to refer to shorthand, initialisms, or abbreviations as acronyms.
The majority of the expressions you see above are not acronyms, but rather shorthand used while text messaging or IMing.
The actual definition of an acronym and text shorthand is here.
Online enthusiasts are learning that shorthand are in fact called acronyms, but this is incorrect.
Commonly used wherever people get online -- including IMing, SMSing, cell phones, Blackberries, PDAs, Web sites, games, newsgroup postings, in chat rooms, on blogs, or on social media -- these abbreviations are used by people around the world to communicate with each other.
Net Lingo is also tracking a global list of worldwide text terms and international online jargon!
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Internet acronyms, text message jargon, abbreviations, initialisms, cyberslang, leetspeak, SMS code, textese With hundreds of millions of people texting regularly, it's no wonder you've seen this cryptic looking code!
There are several terms to describe different kinds of jargon including anacronym, backronym, weather acronyms, city acronyms, leetspeak and textonyms.