The bravest thing Bilbo did was to slide down into Smaug's cave.
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He awakes to find that he is being wrapped in spider webs. He kills the spider, which is what makes him feel fierce and bold.
Bilbo was brave because he decided to accept the dwarves' offer and go on an adventure with them: along the road he had to face and overcome his fears and many dangers.
Bilbo said, talking to himself, "what have i got in my pocket?" (it was the Ring). Gollum thought it was a riddle and Bilbo decided to make it one. he gave Gollum three chances to guess and gollum lost after four. then gollum went "to get something" (it was the ring), and Bilbo thought he was abandoned and left with the ring on. Gollum thought Bilbo knew the way out and he wanted to follow him, realizing Bilbo had the ring. Bilbo saw Gollum racing towards the gate and followed him to safety.
Gandalf surprised Bilbo and he was foreshadowing the future
Bilbo's mother was called Belladonna.
Balin goes part of the way down the tunnel with Bilbo, and Bilbo takes one single golden goblet from Smaug’s immense hoards.
The dwarves are Bilbo's friends for most of the Hobbit.