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What is a Bit? by dbooster

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· @dbooster · (edited)
$23.15
What is a Bit?
Do you know what a bit is? If I say what is 8-bits you may have the image of an NES game in your head. But no, that's not what I'm talking about. I'm talking about money bits, not computer bits. 

There is a famous old song that has the following curious line:

*two hours of pushing broom, buys an*
*eight by twelve four-bit room*

Four-bit room? What the heck is that? Probably many of the older people from the US know what it is. Four bits is fifty cents. 

*What the? How? Why?* These might be questions running through your head. So just what the what *is* a bit?

This goes back to the usage of the Spanish dollar in the early United States. The Spanish dollar was the most common currency at the time. It could be divided into 8 reales, nicknamed *bits*. You may have heard the other nickname of this coin: *Pieces of Eight*. 

Anyway, so a bit was literally 1/8th of a Spanish dollar. And when we talk about a division of that coin, we really do mean it *literally*. 

<center>![][bits]
<sup>[source](https://files.peakd.com/file/peakd-hive/dbooster/EoK4tBKqqFCpCBfsjJ1FQKQGTb4C1TupL25UpCpnpZzLXGTWqPjiE9nEaRFnvkWKie1.jpg)</sup></center>

[bits]: https://files.peakd.com/file/peakd-hive/dbooster/EoK4tBKqqFCpCBfsjJ1FQKQGTb4C1TupL25UpCpnpZzLXGTWqPjiE9nEaRFnvkWKie1.jpg

If you needed change, you might have to take a quick stop at the local blacksmith to make it for you. Wild, huh?

Anyway, when the US started her own currency using the decimal system, the name *bits* remained in use. The US doesn't (and didn't) have a 1/8th dollar coin, which would be 12 1/2 cents. The dime (10 cents) would be the closest and sometimes it was called a *short bit*. But the more common usage, at least the one that survived long after the colonial period, was using two-bits to refer to a quarter (25 cents), or any multiple of two (i.e., four-bit, six-bit, eight-bit) to refer to a multiple of 25 cents.

This slang lasted for quite a while. Even when I was a kid in the 1980s and 1990s people still used it, though usually only older people. I heard it a lot when collecting money for my paper route. I don't know how much it survives these days, as I don't live in America anymore and am not exposed to the current US English very often, but seeing as how using change is becoming a rare thing, I'm going to guess it may have finally disappeared. 

Although it may still survive in phrases where it means *cheap* when referring to objects or *worthless* when referring to people. 

e.g.,
*Forget that two-bit snake-oil salesman.*
or
*This two-bit hunk of junk is broken again.*

Although even those usages of the slang may be dying away. 

So now you know. And...

<center>![](https://media.tenor.com/B5BeIJrsH-sAAAAC/gi-joe-knowing-is-half-the-battle.gif)</center>

Oh, but there is one more thing. What of computers? As most of you probably know, the smallest unit of information in computers is a *bit* and 8-bits equals a byte. Kind of strange that it uses the same terminology and grouping of eight to equal the next unit, isn't it?

As far as I have read, no one is quite sure if this was adopted as a nod to the old money usage of *bits* or not. It seems too much of a coincidence to not have been the case, but we don't know. What we do know is that the computer *bit* is an abbreviation of "binary digit", introduced in 1948 in a paper Claude Shannon. 

Shannon was pretty important in the early days of computers (I had to learn all about him in my computer science classes). He was American so we can be fairly confident that he was aware of the money meaning to the word "bit", as the slang was in regular and common use in those days, yet I can't find any info about if he was ever asked about the similarity in naming. You'd think it would have come up sometime during his life. At any rate, the name may have just been complete coincidence, it might have been a kind of inside joke reference, or he might have been influenced by the money meaning subconsciously. The truth is lost to history. 

<center><h1>❦</h1></center>

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<td><img src="http://68.media.tumblr.com/9ed59bcbc3d0c81b382b0df883f91773/tumblr_inline_ni2uuza1ku1qz4uph.jpg" alt="Hi there!"></td>
<td><a href="https://hive.blog/about/@dbooster/about-david-laspina-v1-2">David LaSpina</a> is an American photographer and translator lost in Japan, trying to capture the beauty of this country one photo at a time and searching for the perfect haiku. He blogs here and at <a href="https://laspina.org">laspina.org</a>. Write him on <a href="https://twitter.com/dbooster">Twitter</a> or <a href="https://famichiki.jp/@dbooster">Mastodon</a>.</td>
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@bitcoinman ·
$0.03
It would be cool if they designed them like that and no need to go to blacksmith !BBH
👍  ,
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@bbhbot ·
<center><p>@dbooster! <b>Your Content Is Awesome</b> so I just sent 1 <b>$BBH</b> (Bitcoin Backed Hive) to your account on behalf of @bitcoinman. <sub>(8/50)</sub></p>
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@dbooster ·
$0.03
I think that would have been a bit beyond the technology at the time. Cool idea though. If they did that now, it's make change more fun!
👍  ,
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@bitcoinman ·
I don't think so fairly easy to make but I don't think they wanted people to do that but making change is important 🤣 !BBH
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@bozz ·
$0.03
Go Joe!
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@dbooster ·
$0.03
Go Joe!!

I often think my references and points to old 80s cartoons get ignored. Glad you pick up on them. 
👍  ,
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@bozz ·
If it's the 80's you can probably always count on me.  My mom gave me a bunch of toys this past weekend and one of them was one of my old MASK cars.
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@bulliontools ·
$0.03
That's a cool "bit" of history. 😉

One day I'll track one down.

!BBH
!DHEDGE
👍  ,
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@bbhbot ·
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@dbooster · (edited)
haha exactly 😃

!BBH
!LOLZ
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@bbhbot ·
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@lolzbot ·
<div class='pull-right'><center><img src="https://lolztoken.com/lolz.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p><br><br><br><br></center></div><p><center><strong>What’s Forest Gump’s password?<br>1Forest1.</strong><br><sub>Credit: <a href="https://peakd.com/@reddit">reddit</a></sub><br>@bulliontools, I sent you an <a href="https://lolztoken.com">$LOLZ</a> on behalf of dbooster<br><br>(1/10)<br>ENTER @<a href='https://peakd.com/@win.hive/posts'>WIN.HIVE'S</a> DAILY DRAW <a href='https://peakd.com/@win.hive/posts'>AND WIN HIVE!</a></center></p>
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@dhedge ·
Dhedge Call
<center>![1](https://images.hive.blog/u/dhedge/avatar?width=80&height=80)</center><br><br>This post has been selected for upvote from our token accounts by @bulliontools! Based on your tags you received upvotes from the following account(s):<br> <br>- @dhedge.bonus<br>- @dhedge.leo<br>- @dhedge.pob<br>- @dhedge.cent<br>- @dhedge.neoxag<br>- @dhedge.waiv<br><br>@bulliontools has 6 vote calls left today.<br><br>Hold 10 or more DHEDGE to unlock daily dividends. Hold 100 or more DHEDGE to unlock thread votes. Calling in our curation accounts currently has a minimum holding requirement of 100 DHEDGE. The more DHEDGE you hold, the higher upvote you can call in. [Buy DHEDGE on Tribaldex](https://tribaldex.com/trade/DHEDGE) or earn some daily by joining one of our many delegation pools at [app.dhedge.cc](https://app.dhedge.cc).
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@ironshield ·
That is so cool!  I've always wanted "bits" of silver that I could put together like a puzzle.   Literally a "bit" coin.  !LOLZ
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@lolzbot ·
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@kerrislravenhill ·
$0.03
I have here a genuine 2 bit of an 8 Reale cob with two nice Chinese chops, from the feel of this quarter cob it is smooth as if it changed hands many times. A very cool piece.
![20231231_004515.jpg](https://files.peakd.com/file/peakd-hive/kerrislravenhill/23xAbqPdh2u3nQEtM1xsN2Lm1kDEwBUdT1UeyeDj1QJLdixinfCwFt1rM9ZLbAWDwspFk.jpg)
👍  , ,
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vote details (3)
@dbooster ·
That is a very cool piece to have! I'd love to get one. 
properties (22)
authordbooster
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@kerrislravenhill ·
I got this from HK Colonial Coins on Instagram, he has accepted Crypto payment before as an option.
properties (22)
authorkerrislravenhill
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@maddogmike ·
$0.03
I haven't heard the term "bits" used for money in a long time.  I remember when I was a kid hearing it and seeing it in some old western movies.  Nobody I know says bits anymore, I doubt most younger people would even know about it.

There was also the old cheer, two bits, four bits, six bits a dollar, all for (who ever) stand up and holler.
!lol
👍  ,
properties (23)
authormaddogmike
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vote details (2)
@dbooster ·
Yeah that's my guess, that Zoomers and under, even probably most younger Millennials, would have no idea what a bit is. 
properties (22)
authordbooster
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@lolzbot ·
<div class='pull-right'><center><img src="https://lolztoken.com/lolz.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p><br><br><br><br></center></div><p><center><strong>The punch line comes first.<br> The worst thing about time travel jokes is…</strong><br><sub>Credit: <a href="https://peakd.com/@reddit">reddit</a></sub><br>@dbooster, I sent you an <a href="https://lolztoken.com">$LOLZ</a> on behalf of maddogmike<br><br>(1/2)<br>Farm <strong><a href='https://lolztoken.com'>LOLZ tokens</a></strong> when you <strong><a href='https://peakd.com/hive-155986/@lolztoken/earn-10percent-apr-on-hive-power-delegations-to-the-lolz-project'>Delegate Hive</a> or <a href='https://peakd.com/hive-155986/@lolztoken/introducing-lolz-defi-now-you'>Hive Tokens</a>.</strong><br>Click to delegate: <a href='https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=lolzbot&vesting_shares=10%20HP'>10</a> - <a href='https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=lolzbot&vesting_shares=20%20HP'>20</a> - <a href='https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=lolzbot&vesting_shares=50%20HP'>50</a> - <a href='https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=lolzbot&vesting_shares=100%20HP'>100</a> HP</center></p>
properties (22)
authorlolzbot
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@mdasein ·
$0.03
 !PGM
👍  ,
properties (23)
authormdasein
permlinkre-dbooster-202432t115114395z
categoryhive-167922
json_metadata{"tags":["silvergoldstackers","thealliance","pimp","neoxian","leofinance","archon","proofofbrain","cent","indiaunited","mancave"],"app":"ecency/3.0.43-mobile","format":"markdown+html"}
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vote details (2)
@silverd510 ·
$0.03
That’s why it’s difficult to find the old 8 Reales coins not chopped.
👍  ,
properties (23)
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permlinks9p30i
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vote details (2)
@dbooster ·
I'd love to get my hands on one. But even just getting a few bits would be cool to have in the collection. 
properties (22)
authordbooster
permlinkre-silverd510-s9q5v6
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@ssg-community ·
You received an upvote of 100% from Precious the Silver Mermaid!

Thank you for contributing more great content to the #SilverGoldStackers tag.
You have created a Precious Gem! https://images.hive.blog/DQmT7RQqkpjXrjR43HZgPkPghGxUYDHPu7A68diYnmgbB64/round_gem.png
properties (22)
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@thebighigg ·
That's some great history, I'm not sure where it came in either but it was very  common. The piece of eight from Spain was just that, meant to be cut into 8ths. Very cool post!
!BBH
properties (22)
authorthebighigg
permlinkre-dbooster-s9qp85
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@bbhbot ·
<center><p>@dbooster! <b>Your Content Is Awesome</b> so I just sent 1 <b>$BBH</b> (Bitcoin Backed Hive) to your account on behalf of @thebighigg. <sub>(22/50)</sub></p>
<p><img src="https://i.imgur.com/QwsegY0.png"></p></center>
properties (22)
authorbbhbot
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@thisismylife ·
$0.03
That's really cool information, I bookmarked it because I think it's such an interesting little bit of history :)

Thank you for sharing!

👍  ,
properties (23)
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vote details (2)
@dbooster ·
Yeah, trivia like this is always fun. Glad you enjoyed!
properties (22)
authordbooster
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