Am I A Bad Parent?

My daughter and son think I am an old goat and I just don't understand their lives.
All because I will not allow them to get a Twitter and Facebook page.
I don't teenagers (or for that matter, anyone) should have a Twitter or Facebook account.  My feeling is that more bad things happen on Twitter and Facebook for teenagers than good things.  I also believe that people who are up to no good can access their account who may to try and exploit them.
Finally, I am old fashioned- I think that people should talk on the phone than Tweet.  I will allow that text messages from people they know is ok- barely.
As far as Facebook, I think kids are harmed by it because strangers can access it, bad things can be written and it is the lazy way for a person to communicate.
Kids have committed suicide because what has been written on social media sites.
So, am I a bad parent for not allowing my kids to have a Facebook or Twitter account?
I don't think so, but my birthday is on Sunday and I am just a little younger than dirt, so I may be out of touch.
What say you?