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You can definetly learn how to play and have a whole lot of fun with that guitar.
You folks have helped me out a bunch so here's some knowledge I can share:
The difference lies in part with the "Tonewoods" used by the builder. Tropical mahogany or maple used on the back and sides with a solid spruce top, and a rosewood fingerboard, are the indicators of a high quality acoustic guitar. Along with craftmanship, that's why the Martin and Gibson are so costly. (Of course the name contributes a huge percent as well)
Playability of your Guitar.
The height of the strings over the fingerboard is generally considered its “action”. If the strings are to close to the frets they may make unintentional contact and buzz against the fret. As your acoustic guitar ages, it may become harder and harder to play. Meaning, it will take more pressure to have the strings make good contact with the frets or fingerboard in the case of fretless guitars. This is caused by an increase of string height over the fingerboard. This “action” is adjusted at the saddle and bridge not at the adjustable neck rod. Usually this adjustment and obtaining the proper neck relief by adjusting the neck rod is completed by a competent repairperson. If someone unknowingly attempts to adjust the action by adjusting the neck rod, severe damage to the neck can result. Most manufactures will not accept responsibility and you must foot the bill for repair. The neck rod is used to adjust the relative straightness of the neck. Since, acoustic guitars literally change shape with the rise and fall of the temperature and humidity. The top will rise and fall. This is called “bellying” and is quite normal. Some times it becomes excess and will affect the playability of your guitar. The base of the fingerboard is attached to the top not to the neck. With the constant pulling of the strings and the changes caused by the environmental factors it may become to high and need adjusting. –Relyt-
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I'd go for a 100 Euro guitar, El-Half. Nobody buys a Ferrari as his first car, either.
You start with the basics, and then if you really like playing the guitar, you get the fancy stuff. It's about playing, not about how fancy your guitar is. Nothing worse than someone with an expensive guitar who doesn't even know his chords :)
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Well personally I like Epiphone acoustic's, I bought mine at least a year and a half ago as a first guitar and I still enjoy it although I have since got myself a Strat so its not my number one anywmore.
Has a nice kind of steel feel when you are not playing chords which can sound really good.
Can be a bit bulky at first but if you stick with you will love it.
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Well, the problem is solved.
I can borrow a guitar from my ex-girlfriend for a few years :)