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Topic: The "bit" in Bitcoin (Read 2809 times)

bg002h (OP)

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The "bit" in Bitcoin

August 17, 2012, 02:58:57 AM

#1

Bit - it has two relevant meanings for BTC. The lesser known one is a slang term in many western countries for cash (eg, a US bit is worth 1/8 USD...see http://en.m.wikipedia.org/wiki/Bit_(money) )

If there is an intentional double entendre here and Satoshi thought of it...perhaps he was, culturally speaking, western and not Japanese. His posts sound American to me, but I've only read a few.

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Re: The "bit" in Bitcoin

August 17, 2012, 03:01:05 AM

#2

Quote from: bg002h on August 17, 2012, 02:58:57 AM

Bit - it has two relevant meanings for BTC. The lesser known one is a slang term in many western countries for cash (eg, a US bit is worth 1/8 USD...see http://en.m.wikipedia.org/wiki/Bit_(money) )

If there is an intentional double entendre here and Satoshi thought of it...perhaps he was, culturally speaking, western and not Japanese. His posts sound American to me, but I've only read a few.

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

https://www.bitcoin.org/bitcoin.pdf
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Re: The "bit" in Bitcoin

August 17, 2012, 03:07:02 AM

#3

Quote from: notme on August 17, 2012, 03:01:05 AM

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)?

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Re: The "bit" in Bitcoin

August 17, 2012, 03:08:05 AM

#4

I dunno what Satoshi was thinking but his coin bit me.

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Re: The "bit" in Bitcoin

August 17, 2012, 03:09:10 AM

#5

Quote from: CIYAM Pty. Ltd. on August 17, 2012, 03:07:02 AM

Quote from: notme on August 17, 2012, 03:01:05 AM

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)?

From http://c2.com/cgi/wiki?MicrosoftWindows:

Windows was once famously described as "32 bit extensions and a graphical shell [on top of] a 16 bit patch to an 8 bit operating system originally coded for a 4 bit microprocessor, written by a 2 bit company, that can't stand 1 bit of competition." This was attributed to Art Bahrs (an HP guy) in Aug 1997, although it probably predates that.

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Re: The "bit" in Bitcoin

August 17, 2012, 03:22:24 AM

#6

Oh, won't the banks be bitter when Bitcoin becomes more popular than they.

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Re: The "bit" in Bitcoin

August 17, 2012, 03:28:38 AM

#7

Is the Bit in Bitcoin the 1.0 or the 0.00000001?

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Re: The "bit" in Bitcoin

August 17, 2012, 03:31:25 AM

#8

Quote from: FreeMoney on August 17, 2012, 03:08:05 AM

I dunno what Satoshi was thinking but his coin bit me.

how businesses have name variations from those 3 words: Coinbit, Bitcoin, Bitme. there is a Coinbit isn't there? Cheesy

Cheesy

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Re: The "bit" in Bitcoin

August 17, 2012, 03:43:42 AM

#9

Quote from: CIYAM Pty. Ltd. on August 17, 2012, 03:07:02 AM

Quote from: notme on August 17, 2012, 03:01:05 AM

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,

https://www.bitcoin.org/bitcoin.pdf
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Re: The "bit" in Bitcoin

August 17, 2012, 03:49:32 AM

#10

Quote from: notme on August 17, 2012, 03:43:42 AM

Quote from: CIYAM Pty. Ltd. on August 17, 2012, 03:07:02 AM

Quote from: notme on August 17, 2012, 03:01:05 AM

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".

notme

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Re: The "bit" in Bitcoin

August 17, 2012, 03:52:51 AM

#11

Quote from: cypherdoc on August 17, 2012, 03:49:32 AM

Quote from: notme on August 17, 2012, 03:43:42 AM

Quote from: CIYAM Pty. Ltd. on August 17, 2012, 03:07:02 AM

Quote from: notme on August 17, 2012, 03:01:05 AM

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".

That's just means small.... I was referring to using it as a monetary term, but I suppose only the OP said that, not me.

https://www.bitcoin.org/bitcoin.pdf
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The-Real-Link

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Re: The "bit" in Bitcoin

August 17, 2012, 05:24:45 AM

#12

Perhaps simply that bits make up one of the foundations of digital data? ByteCoin doesn't sound as cool anyway...

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Re: The "bit" in Bitcoin

August 17, 2012, 05:38:41 AM

#13

Quote from: cypherdoc on August 17, 2012, 03:49:32 AM

Quote from: notme on August 17, 2012, 03:43:42 AM

Quote from: CIYAM Pty. Ltd. on August 17, 2012, 03:07:02 AM

Quote from: notme on August 17, 2012, 03:01:05 AM

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".

Try "I'm as tired as a two bit hooker" instead.

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Re: The "bit" in Bitcoin

August 17, 2012, 06:25:37 AM

#14

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.

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Re: The "bit" in Bitcoin

August 17, 2012, 06:52:50 AM

#15

Quote from: notme on August 17, 2012, 03:01:05 AM

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

Quote from: Roger Miller

Ah but, two hours of pushing broom
Buys an eight by twelve four-bit room.

King of the Road, written and recorded in 1964.

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Re: The "bit" in Bitcoin

August 17, 2012, 08:49:48 AM

#16

http://en.wikipedia.org/wiki/Bit_(money)

Quote

The New York Stock Exchange continued to list stock prices in eighths of a dollar until June 24, 1997, at which time it started listing in sixteenths. It did not fully implement decimal listing until January 29, 2001.

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Re: The "bit" in Bitcoin

August 17, 2012, 09:08:41 AM

#17

Captain Obvious here: for me bit means like byte, in the informatic sense

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bg002h (OP)

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Re: The "bit" in Bitcoin

August 17, 2012, 11:09:25 AM

#18

Quote from: The-Real-Link on August 17, 2012, 05:24:45 AM

Perhaps simply that bits make up one of the foundations of digital data? ByteCoin doesn't sound as cool anyway...

It is possible that no double entendre was intended. As others have pointed out, the phrase is so uncommon people don't even recognize it when they use it ("two bit" being a phrase that pre-dates computers meaning small for its small monetary value ... A quarter). Perhaps Satoshi didn't think about how very appropriate the name was, but I'd like to think he did

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Re: The "bit" in Bitcoin

August 17, 2012, 02:05:01 PM

#19

It could refer to the bit in the horse's mouth allowing you to take control of the unruly beast.

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Re: The "bit" in Bitcoin

August 17, 2012, 06:01:45 PM

#20

Or maybe Bitcoin was spelled incorrectly: Bitchin

And if a relic collector: BitChen

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