'LOL' is one of several texting expressions that convey nuance in a system where you don't have the voice and face to do it the way you normally would.
I'm one of those people who writes out words. All of my text messages? You can read them. Everyone would know what I'm trying to say. My sister will say 'BTW.' Do you mean 'by the way'? Is that what you're trying to say?
People banging away on their smartphones are fluently using a code separate from the one they use in actual writing, but a code it is, to which linguists are currently devoting articles.
Texting is fingered speech. Now we can write the way we talk.
I remember the first time I heard a teenager say 'LOL.' Just what? But it means 'laugh.' Why don't you just laugh? What are you doing?
People say that text messaging is a new language and that people are filling texts with abbreviations - but when you actually analyse it, you find they're not.
Clearly texting, SMS and chat are very different than writing a letter or email.
I had to ask my grandchildren, 'What does it mean? I threw shade?'