What does “PvP” mean in multiplayer servers

A "Carebear" is a derogatory term used for characters who stay mostly in Concord (police) controlled space and never ventures into unsecured "0.0" space.

Basically synonymous to cowards.

Ping is the amount of milliseconds it takes a packet of information to reach the server from you and back. Basically it's a measurement of connection speed, and it influences lag quite a lot.

According to pingtest.net:

[Ping] tells how long it takes a "packet" of data to travel from your computer to a server on the Internet and back. Whenever you experience delayed responses in Internet applications - this would be due to a higher than desired ping. Similar to packet loss, lower is better when it comes to ping. A result below 100 ms should be expected from any decent broadband connection.