I honestly don't feel comfortable blocking every single ads there is on the Internet, but I think that on Youtube it's really annoying and abusive.
How can I set Adblock Plus to only block ads when I'm browsing Youtube?
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You can do this via custom filters, though note that the filter it requires is considered "slow". Your mileage may vary.
Set up a custom filter like this:
And leave the other settings at default ("enabled" everywhere). This is effectively an exclude all domains except for those on the list. Ads on any site you add to this filter will be blocked, but all other domains will not.
Another option would be to switch your ad blocker to FairBlocker.com, which lets you make contributions to the sites where you block ads. Disclosure - I'm the founder of FairBlocker. With it, you choose a subscription ($5 or $10), which we then split up amongst the sites where ads are blocked to compensate. I suggest it as you identified being uncomfortable blocking all ads and it might be a solution for you.