Another way of saying "otherwise".
Means "someway else", similar to how one would say "elsewhere" to mean "somewhere else".
If I'm rich I can buy the yacht in peace.
Else, I can rob a bank first if I'm willing to be a criminal.
Elseway, I won't be getting no yacht.
A statement that you say to someone when they are indecisive, even though going with two options is cheaper than the amount of time waisted deciding.
John: I'm spending hours analyzing charts to decide which crypto to get.
Me: Tea or Coffee!
Explanation: If that person spent their time that they waisted analyzing charts on a real job (like McDonalds) then the money they get paid would allow them to invest in both cryptos.