If you've had a My Space account since you were 12, then not only do you lie to your parents, but you lied about your age to My Space in order to enroll.
So yes, I say you are too young.
If you are not old enough to adhere to the rules, you're too young.
If you are not old enough to be honest, you're too young.
If you are not old enough to prove that you are trustworthy, reliable and responsible enough to have a My Space account without having to sneak and lie, YOU'RE TOO YOUNG!