Hi. This isn't my first topic here on UG but assistance i've recieved in the past has been brilliant :] so why not try again.

I've not being playing bass loads but I enjoy 'jamming' to songs and like coming up with bass lines, but I feel like I could enjoy it a lot more if I just knew a few of the basics in theory, especially the theory side. I'm not looking to read music or to do anything crazy, but I want to create bass lines off one note or a set of notes and I want to be able to play around certain chords and notes, just to get something that sounds nice to me, rather than struggling all over the place. :]

Any ideas or shared experiences would be cool, thanks.
The best place to start is by learning the notes on your bass. learn the first 5 frets on all the strings, then start adding notes and learning patterns to help you remember, such as the octave, and the 5th above.

Then, learn key signatures. ie G major/E minor only have one "sharp" note; F#
D major/B minor have two; F# and C#

That's a good start for what you're talknig about, which is jamming with a ong and making up parts. Figure out what key it's in, and use the notes from that key signature.
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learn your minor and major pentatonic scales and arpeggios. this is what I consider to be the bare minimum anyone should learn on bass.

check out studybass.com for som good lessons .
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I'd actually suggest learning to read music. It allows you to put your compositions on paper, it allows you to break away from TAB and read sheet music, and its just a good skill for any musician to have.

Make sure you know the fretboard backwards and forwards, that's the first step. Then scales, scales, scales, until they are coming out of your ears.
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I wouldn't bother with reading music personally, it doesn't do any good for jamming.
Start by learning the notes in the major and minor scales, pentatonic and then the rest of the modes if you're feeling clever.