A computer geek euphemism for a void or great beyond. That is, dead people go to heaven or hell, but dead bits go into the bit bucket. Also associated with the null device, /dev/null.
I deleted the file so now it's in the bit bucket in the sky.
by HunterX January 25, 2005
Where electronic or digital data goes when it is lost or deleted. Derives from bit, meaning a unit of information, with bucket implying a common reservoir in which the units are collected for recycling when no longer in use.
Two hours' work went into the bitbucket when the power went out.
by Downstrike September 28, 2004
Where the internet goes to die.
My packets keep riding the tubes right into the ol' bit bucket. God rest their little souls.
by Mr. WAT May 01, 2008