I'm gonna go with the majority here and suggest that you hold off. When you can make a meaningful relationship last, then would be a good time to take the next step. Losing your virginity at 16 is actually pretty young, and most of my friends (including myself) were virgins untill they were at least 18 (20 for me) and a 24 year and a 16 year old does not spell out good things at all.