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The 23-year-old Bath-based sprinter ran the anchor leg in the 4x100m and took the baton level with Bolt, but the Jamaican powered away for the win.
"Since I watched him in 2008, I've always wanted to race him in a championship final," said Talbot.
"That's what I have trained for my whole life, I want moments like that."
Trowbridge-born Talbot  was part of an England quartet with Adam Gemili, Richard Kilty and Harry Aikines-Aryeetey that clocked an impressive 38.02 secs, which should build confidence for Great Britain's hopes at this month's European Championships.
"We were with the Jamaicans up until the last leg and any other team wouldn't have had the greatest athlete of all time on the last leg," added Talbot
"So if he wasn't running maybe we would have beaten Jamaica who are probably the best sprinting nation in the world at the moment.
"It is a nice feeling to know that the only reason we don't have a gold medal is because the greatest athlete of all time was racing."
Two years ago at the London Olympics, Talbot was part of the Great Britain 4x100m team that was disqualified after he failed to hand the baton to Gemili.
It has been an impressive 2014 for Talbot though as he has improved his personal bests in both the 100m and 200m, as well as taking the 200m title at the British Championships.
"I feel elated. It was a great moment to be on the track with three of my mates and to be with a great Jamaican team as well," he added.
"To cross the line knowing we won the medal is amazing.
"The cold nights at the University of Bath where my coach is shouting at us to get up and do another rep, it is all worth it when you get to a championship final and win a medal."
Danny Talbot says being beaten to gold by world and Olympic champion Usain Bolt did not spoil his enjoyment of racing at the Commonwealth Games.