Exactly.
A white dwarf, red dwarf, brown dwarf or any star for that matter when we look up at the night sky (excluding non-blinking celestial objects) have the potential to create a black hole when they go nova. In time, a star will burn out, explode, get created again, burn out, blow up . . . it's a vicious cycle and it takes billions of years. However, during a super nova exlosion, and we're talking a damn big star, maybe 3 times as big as our own, it might have the off chance of producing a black hole where as when the star collapses, the gravitational force is so strong that it overwhelms the force of outward motion and collapses upon itself. Now there is nothing to hold back collapse and it collapses into a point of infinite density. When the mass inside the given region of space increases, its gravity becomes stronger is what I am trying to say. When the star explodes, it will be pulled back to its focal point/center of explosion and collapse on itself. It makes a hole in space. The center, being the singularity, contains the remnants of the previous stars mass, supposedly. Time is also in a jumble. That's the low down.
Anywho, I wish I could be around for when we start space traveling, that is if that stupid asteroid doesn't hit us or if we blow ourselves up. I kind of want to be there when we have more space stations and possibly ships to carry people from planet to planet.
Just two quick side notes though:
1) Black holes do have "orbits" so they are floating around.
2) If we were to space travel and go to say Jupiter, our bodies would age at a slower rate than that of Earth's time. If we were to take that trip to Jupiter and go back to Earth, time would have changed severly since you had left. I am not exact as to the time stat, but I believe a few years would pass from the short time it took you to go to Jupiter, and the time it took you to get back.
Time is different everywhere...
