The "bit" in Bitcoin

[notme]

One bit
Two Bits
Three Bits
A dollar
All for Satoshi
...

You get the idea. I remember this during the prep rallies in high school--100 years ago.

~Bruno~

1/8
1/4
3/8
1

I don't get that progression, it must be some form of ancient math.

[acoindr]

Are you American?  I'm guess no, because the term bit hasn't been used here in about 100 years.

So the slang "two-bit" (such as a "two-bit company") is not used in the US (thought I'd read some joke about Microsoft Windows years ago that had that term in it)?

Yes, that specific phrase is used occasionally to mean something cheap/worthless, but that's the only usage I've ever heard,

"i'm feeling a bit tired".

bit/bit/
Noun:   
1. A small piece, part, or quantity of something.
2. A mouthpiece, typically made of metal, that is attached to a bridle and used to control a horse.
3. A unit of information expressed as either a 0 or 1 in binary notation.

I think "two-bit" company does refer to the monetary "bit", but that's the only usage in that sense I can think of too. It's just a bit further obviously refers to "a small piece".

FWIW I think the 'bit' in bitcoin is strictly to indicate something technical. Most people think of "bits" to be the things used by computers, as in definition #3.

[Phinnaeus Gage]

One bit
Two Bits
Three Bits
A dollar
All for Satoshi
...

You get the idea. I remember this during the prep rallies in high school--100 years ago.

~Bruno~

1/8
1/4
3/8
1

I don't get that progression, it must be some form of ancient math.

Perhaps I was hunting camel toes instead of listening to the cheer back in the day, for I believe I got it wrong. The progression is 2, 4, 6, 8, a dollar. Here's a 12 second video showing the cheer: http://www.youtube.com/watch?v=79ZgYM6gL9Y

~Bruno~

[notme]

One bit
Two Bits
Three Bits
A dollar
All for Satoshi
...

You get the idea. I remember this during the prep rallies in high school--100 years ago.

~Bruno~

1/8
1/4
3/8
1

I don't get that progression, it must be some form of ancient math.

Perhaps I was hunting camel toes instead of listening to the cheer back in the day, for I believe I got it wrong. The progression is 2, 4, 6, 8, a dollar. Here's a 12 second video showing the cheer: http://www.youtube.com/watch?v=79ZgYM6gL9Y

~Bruno~

Drop the 8 and I'll accept it.

[edd]

"Bits" were eighths of a dollar in the "New World" before the US created the current coins. Consequently, quarters were often referred to as "two-bits", hence, the phrase, "shave and a haircut: two-bits" meant the cost of a shave and a haircut was $0.25.

[BkkCoins]

"Bits" were eighths of a dollar in the "New World" before the US created the current coins. Consequently, quarters were often referred to as "two-bits", hence, the phrase, "shave and a haircut: two-bits" meant the cost of a shave and a haircut was $0.25.

Ya, and what does a shave and haircut cost now? $15 or more maybe. Oh ya, go fiat go.

[Phinnaeus Gage]

One bit
Two Bits
Three Bits
A dollar
All for Satoshi
...

You get the idea. I remember this during the prep rallies in high school--100 years ago.

~Bruno~

1/8
1/4
3/8
1

I don't get that progression, it must be some form of ancient math.

Perhaps I was hunting camel toes instead of listening to the cheer back in the day, for I believe I got it wrong. The progression is 2, 4, 6, 8, a dollar. Here's a 12 second video showing the cheer: http://www.youtube.com/watch?v=79ZgYM6gL9Y

~Bruno~

Drop the 8 and I'll accept it.

JFC! That's twice I got this wrong, and I'm setting here on the shitter crying, and musing why 13+ of my friends are ignoring me.

Now an image in the spirit of Team Gavin:

[finkleshnorts]

I think it's an obvious reference to bittorrent because of p2p structure. Thought this since I first read about bitcoin

[drakahn]

Obviously its because ♫ We put the bit in bitcoin ♪

[bg002h]

Obviously its because ♫ We put the bit in bitcoin ♪

Way too funny...do we make Steve Gutenberg a star too? (Different episode)