Why is the word "LOL" so overused nowadays?

[Slimebeast]

darthdevidem01 said:

Slimebeast said:

darthdevidem01 said:

hsrob said:

I never use it but what is worse than seeing it in every second posts is when people actually use it while speaking.

{whistles innocently}

What? You seriously don't say "lol" out loud do you?

I used to for a month, it was a phase. I do say rofl out loud though, to my dog & my best friends. Not to any random stranger, thats social suicide.

LOL. It is?

So how is "rofl" pronounced? Like waffle?