Chat window shrinking or hiding
 

Being able to have alot of people to talk to is great, but sometimes I wish I could shrink the chat window or hide it for these reasons:

1: Make more room on the screen, especially when I"m busy with something or there's alot happening on the screen.

2: Sometimes it breaks immersion, and the only way I know how to hide it so far is to hide everything by pressing F12, but that also hides some useful information.

Is there a trick to hiding the chat window or something?