I think i made a BIG mistake i folded there, but i was sure in that moment he had a stronger hand. I play online poker for only a month and i havent been in many situations like this one. I folded because 2 reasons: he was playing very tight 
and i was scared 
(very big pot for me).
Hand converted with online PokerStrategy.com hand converter:
$0.02/$0.04 No-Limit Hold'em (8 handed)
Known players:
[tg]CO$4.90:///////;BU$2.34:///////;SB$7.01:///////;BB$5.22:///////;UTG2(Hero)$14.03:///////;MP1$12.01:///////;MP2$0.54:///////;MP3$8.54:///////;[/tg]
Preflop: Hero is UTG2 with Q:s, Q:c.
Hero raises to $0.16, MP1 calls $0.16, 4 folds, SB calls $0.14, BB folds.
Flop: ($0.52) 4:d, 7:s, 6:c (3 players)
SB checks, Hero bets $0.50, MP1 calls $0.50, SB folds.
Turn: ($1.52) 8:h (2 players)
Hero checks, MP1 checks.
River: ($1.52) 8:c (2 players)
Hero bets $1.08, MP1 raises to $11.35(All-In), Hero folds, MP1 gets uncalled bet back.
Final Pot: $2.6.