Is texting killing the English language?

I recently read an article about texting. Texting is like speaking with your fingers. But people often speak different in text messages then in real life.

In the article they are saying that the text language is getting richer and more complex by the year. They say that a revolution has begun. That texting is a new kind of talking. People don’t use any more capitalization or punctuation. Texting has got his own grammar. For example the word ‘LOL’. The actually meaning of LOL is ‘Laughing out loud’. But people don’t use it that way. Some people use it in almost every sentence without it heaving any meaning: Jocelyn texts “Where have you been?” and Annabelle texts back “LOL at the library studying for two hours.”

My text language isn’t that bad. I still use capitalization and punctuation. I think it is important to use the right grammar, so it doesn’t get lost. I find it also annoying when somebody text me, and the text message is full of abbreviations.