Should I have to give parents my Facebook password?

[Ryan]

My parents are very strict and wont let me have a cell phone or computer of my own. We do have a family computer in the living room but only my parents know the password. If me or my sister want to use the computer someone has to be home to watch over it. I have begged my parents to let me have a Facebook for years and they even have one. They talked about it last night and agreed that I can have it but the rules are
1. They must know my password at all times.
2. I cant accept a friend request unless they know them.
3. I must have them on my Facebook.
4. I can only use it on weekends.
5. Not allowed to have pictures of me on there.
6. I have to let them know if I am logging in.
7. Can not use profanity on the website.

I am now debating if its even worth using because I want to be able to keep somethings private. Back when I was like 11 I created one at school and this is why I wasn't allowed to have it but now I am getting treated like a little kid. I even tried convincing them that I am mature enough to know how to use it but they said I agree to the rules and sign a contract I made up or I cant have it. If I agree and break any rule I got a list of punishments I would get. What would you do?