Steroids can possibly cause men to start balding if they have a genetic predisposition towards Male Pattern Baldness. The gene for baldness is thought to reside in the X chromosome exclusively, so a good general indication of whether someone is genetically predisposed towards being bald is to look at the men on their mothers side. Chances are that if the majority of them are bald, then the person will be carrying that gene too. The reason steroids can cause premature balding is that the scalp reacts to Dihydrotestosterone (DHT) quite strongly, and many steroids can either convert to DHT or are derived from it. Of course, several anti-baldness medications can prevent this, such as Finasteride and Dutesteride. This is, of course, merely a cosmetic effect, and poses no real health issues. It could be catastrophic to a potential career with any one of a number of 80´s rock bands, but other than that, I can´t really see any real problems associated with hair loss; especially since it can be avoided when proper steps are taken and certain steroids are avoided.