hi north,
i had the same reservations about shaving my head at college. i actually waited until after graduation before making the change because i was worried about reactions from friends/family. i knew it was silly at the time but i sill couldn't make myself do it. of course after i did it, some people gave me a hard time when they first saw me, but it was just for fun. all the sincere comments i've gotten have been positive. looking back, i wish i had done it much sooner. i was one of the last people to realize that i was going bald... not the other way around. whether people say anything or not, they know. when i look at pictures of myself from the last few years, i'm almost embarrassed i waited so long.
everyone has different physical and personality traits. people will respect you most for being self aware. stop hiding your baldness. go shave your head and start feeling comfortable with your appearance so you can focus on other things.