I started playing bass about 3 months ago. nobody had ever taught me how to play and i hadn't really heard anything, so i kind of taught myself. turns out, i taught myself totally wrong. instead of the usual two fingered approach, i use three, one on each string! my index on E, my middle on A, and my ring on D and G. By now, though, i am quite used to this setup. i dont think i can go as fast with this method, but should i start all over again?
Do whatever works for you, bro. No one here will rag on you because of it. God Knows my technique isn't orthodox.
Dude, be glad you us three! most of us sre trying to use 3 fingers but we can't. you've must play some pretty fun-ky lines!
do what works best, I use three fingers (I think it built up my dexterity) and play mostly at the bridge or in the middle making reaches.
If you are happy with your technique, stick with it. However, I want to add a bit more to what everyone else has said. Having only ONE finger on ONE string means that if you are playing a fast line on the same string, you are limited to that one finger. It is always better to use alternate fingers for each note when you play - most pros and teachers will say this. This means you can play faster, and the notes are cleaner. It doesn't matter if you use only 2 fingers, if you alternate them, then you can play just as well compared to people who use 3 or 4 fingers (unless you are playing chords or flamenco style in which case you need to use most if not all your fingers). Remember, this is only my opinion. Other people will say different things.
do what ever u want, i ain't gonna criticize, i use an eraser for a pick (thread at http://www.talkbass.com/forum/showthread.php?s=&threadid=28239), so keep doin what ur doin