Man, so many people to quote. I'm going to do it the lazy way:

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actually my band concept, phyllis, is quite defunct, but it still may wobble awkwardly to it's feet yet
Hey, I think I was in that band once!

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Keith is really much more of an expert than me, so you'll probably just want to do whatever he says. Or even better - my mentor, Roger Dabbs!
I was almost flattered there for a minute. But seriously, Roger knows way more about basses than me, but he has a life and therefore won't be around to answer you questions as much as me!

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A Fender is a pretty safe bet. Roger uses one. Keith uses one. Mike Mills uses one. It's hard to go wrong with a Fender, and they're not too terribly expensive, especially if you get one that was made in Japan or Mexico.
I TOTALLY AGREE! Buy a Mexican Fender. They sound alright (definitely good enough to learn on), they feel great, and you can get them really cheap, especially used.

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When you're ready, buy a Rickenbacker.
Nah. When you're ready buy a better Fender. Then when you have money to burn, buy a Rick. They are very cool looking and sound decent, but I have one and am much more comfortable with the Fender P-Bass (deluxe).

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there is nothing wrong with a 5 string
Sure there is. At least if you want to play rock and roll, and I assume that is the case. If you want to be in a hippie band or play nu-metal, than go ahead and buy the 5-string.

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(regarding 12 strings)There's such a contraption?
Yeah. They're generally like six-string basses (B,E,A,D,G,C usually) with a string an octave lower (basically a guitar string) directly next to each normal string. You hold down both strings at the same time so you are constantly playing octaves. It's the same concept as a 12-string guitar, only an octave lower and a slightly different tuning (E,A,D,G,B,E). I don't really know why I bothered to explain this considering anyone who cares probably already knows. I'm just bored.
I TOTALLY AGREE!
Keith, you are destined to rock. Never forget this.
-SLACK