I recommend waiting unless you have a fake ID. I wanted to peace out when I was 16 as well but turns out almost every country in the world sucks if you're under 18. You can't really do much, you'd need a parental consent at every airport, you can't get a visa on your own, you can't buy plane tickets, you can't buy train tickets, hotels, hostels, etc. unless you go to some small towns around the world and work with that.
I advise you to wait it out. I'm 17 right now, turning 18 in a couple of weeks and leaving in a month. If there's anything I can say to you, is work on your mentality, will power and wisdom before you do anything of this magnitude.
Also, dangerous people all over the world. If they see a 16 year old (guessing you look your age) walking around alone, it's a great opportunity for them to mug/kidnap you. Not to put fear in your heart, there are many, many wonderful people but the evil ones do get their way occasionally.
I wish the best of luck to you,
Love&Light be with you friend.
Hate to be the bearer of bad news H.SH, but a lot of those problems that you came across don't really exist. Visas you don't need to be 18 for, unless you're starting a collection before you go, or looking at something other than just a tourist visa. I visited a few consulates just to make sure and getting visas at the border it doesn't make any difference. As for credit cards, while you can' have your own, you can always ask you parents to get an extra card with your name on it specifically, that way you can sign for it. Reloadable travel mastercards are also the way to go, you can manage them on your own, online even, they're great. As for hotels and hostels... hostels are no problem, I guarantee you they won't turn you away if you're under 18, I'm speaking from personal experience, so no worries. Hotels might be a little different, but if you can get a credit card (ie. on your parent's account or a travel mastercard) then you should be in the clear. I have more experience with hostels than hotels, but it's worth checking into.
So I hope the technical stuff doesn't deter you from travelling. Carrying a parental consent document (basically just a written permission to leave the country/ enter a new one without your parent present) is a good idea for security's sake, but honestly, I don't think you'll run into any problems.