What is Leet-speak?
1.
n. The language of virgins.
People who use leet-speak will never get laid.
2.
The practice of substituting any number of letters or symbols for actual letters coupled with purposefully phonetically mis-spelling words while chatting in order to make your chat unreadable to all but the "elite," or, all the other dorks you are chatting with.
31337 = ELEET = Elite