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The shortest form of the hugely popular expression "Laughing Out Loud". The evolution from "Laughing Out Loud" to the expression "5" is as shown here: 1. Laughing Out Loud - (Original) 2. lol - (Original -> Acronym) 3. 101 - (Acronym -> 1337 Acronym) 4. 5 - (Binary -> Decimal) By using "5" instead of "lol", 1337 typists save 66% of their time, thus the need for the expression "5". Typically a situation that warrants a "5" is funnier than a situation in which "lol" will suffice.
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