It depends which kind of music you want to play.
I would also suggest you to learn finger picking instead of using a pick, but it's all about what you are playing.
Muting with your fingers is a much better and accurate technique when you play fast, so if you can work this out when you start to learn bass, it will help you at the end
Also, there is no bad or good decision for a first bass. It's all about if you have time to learn and practice.
After 6 months / 1 year, you will understand why you need a better bass, but for now it doesn't matter.
Read books about some bass techniques, watch videos, etc.
It would be much better if you can get you a teacher that will show you all the basics, but if not, that will do it.
This post was edited by Kafir on Jul 13 2012 05:37pm