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1.
1/16 oz of cannabis resin. Used to cost £8 and you were meant to get 8 joints out of it (but more like 3 to 5). Most dealers would not sell quantities so small.

Term used in the west of Scotland in the 1990s. I wouldn't know if it is still used (its likely that drug prices have changed since then).
unreliable scoundrel: Got any hash, Mr dealer?
Mr dealer: Alas not.
unreliable scoundrel: Not even an eight bit?
by me in a past life May 23, 2007
 
2.
The number of pixels that made up a picture or character in an old game usually on the systems like the NES or ATARI.
OMFG Nintendo is eight bit and it's still teh Ownz0r.
by Ser Hax0r February 25, 2005