'L' works better than 'LOL' because it can be used in a variety of responses more effectively. Just saying 'I Laugh' is saying this could be funny, lame or useless - you are not 'laughing out loud'. It is rather that what is said in the statement is laughable.
Austin: I cant dance
Sarah: I love you
Drake: I love you too :)
Austin: I lost all my money
Austin: I just won a million dollars
Drake: No way, congrats man
Austin: What a dumbass that guy was
Contrary to popular believe, it's not technically a blunt, a blunt is a cigar re-rolled with marijuana, or you can just buy an already non-rolled blunt paper, an L is a good stepping stone to a blunt, you can fit 1g-1.5g in an L, whereas a blunt can go 3g-5g.
Friars - well, give me half, i guess we gotta roll 2 L's..
Shit son thats the sweetest L i've seen, burns perf too.
L Lawliet, commonly referred to by his alias "L", is a fictional character in the manga and anime series Death Note. He is considered the world's greatest detective, and he takes on the Kira investigation in the first arc.