An abbreviation of Going Back To Sleep. It can be used when someone is too lazy to write the complete phrase, usually when someone wakes up due to a message and wants to go back to sleep.
N: I heard school is off because of the snow.
H: GBTS
N: Same here.
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A common American phrase used to end a conversation due to time constraints. Usually used to be polite.
Friend: ... So after the movie we found the craziest thing in the alley.
Me (about to do something important): Sounds interesting, tell me about it later.