In the U.S, the bit is equal to 1/8 of a dollar or 12.5 cents. In the U.S., the "bit" as a designation for money dates from the colonial period, when the most common unit of currency used was the Spanish dollar, also known as "piece of eight", which was worth 8 Spanish silver reales. One eighth of a dollar or one silver real was one "bit".
With the adoption of the decimal U.S. currency in 1794, there was no longer a coin worth of a dollar but "two bits" remained in the bit and 15¢ a long bit.
Robert Louis Stevenson describes his experience with bits in Across the Plains, p. 144:1
In the Pacific States they have made a bolder push for complexity, and settle their affairs by a coin that no longer exists – the BIT, or old Mexican real. The supposed value of the bit is twelve and a half cents, eight to the dollar. When it comes to two bits, the quarter-dollar stands for the required amount. But how about an odd bit? The nearest coin to it is a dime, which is, short by a fifth. That, then, is called a SHORT bit. If you have one, you lay it triumphantly down, and save two and a half cents. But if you have not, and lay down a quarter, the bar-keeper or shopman calmly tenders you a dime by way of change; and thus you have paid what is called a LONG BIT, and lost two and a half cents, or even, by comparison with a short bit, five cents.
With the adoption of the decimal U.S. currency in 1794, there was no longer a coin worth of a dollar but "two bits" remained in the bit and 15¢ a long bit.
Robert Louis Stevenson describes his experience with bits in Across the Plains, p. 144:1
In the Pacific States they have made a bolder push for complexity, and settle their affairs by a coin that no longer exists – the BIT, or old Mexican real. The supposed value of the bit is twelve and a half cents, eight to the dollar. When it comes to two bits, the quarter-dollar stands for the required amount. But how about an odd bit? The nearest coin to it is a dime, which is, short by a fifth. That, then, is called a SHORT bit. If you have one, you lay it triumphantly down, and save two and a half cents. But if you have not, and lay down a quarter, the bar-keeper or shopman calmly tenders you a dime by way of change; and thus you have paid what is called a LONG BIT, and lost two and a half cents, or even, by comparison with a short bit, five cents.
by Cobruh October 23, 2014
Get the two-bit mug.Refers to the size of the internal registers of the CPUs used in the early days of personal computers and gaming consoles. It does not refer solely to NES or any single computer. Other examples of 8-bit CPUs included:
TI-99/4 and TI-99/4A
Commodore PET
VIC 20
Commodore 64
Apple
TI-99/4 and TI-99/4A
Commodore PET
VIC 20
Commodore 64
Apple
by ogreesh April 27, 2005
Get the 8-bit mug.Related Words
Bit Bit
• Bit Biter
• Bit-Biter™
• biddy bit bits
• Bit Bip Bit bip
• Bit That You Bite
• bit
• dirty bit
• bacon bit
• Two-Bit
A routine or section of a routine during a stand-up comedy show of approximately 1-4 jokes in length.
I totally murdered the audience at the Hilarity House last night with my bits about how girls hate it when guys leave the toilet-seat up!
by ClunyScourge December 24, 2020
Get the bit mug.1. A douche bag in training. A young student of douchery.
2. A child who learns and displays the douchey characteristics of his father or other douche bag mentor.
2. A child who learns and displays the douchey characteristics of his father or other douche bag mentor.
That 5 year old is a total D bit. Have you met his douche bag father? No wonder he's such a bastard ass little douche.
by CheapTrickett August 6, 2010
Get the D bit mug.by Vik_Vik January 10, 2011
Get the a bit of a handful mug.Stereotypical person of Italian-American decent from the Italian section of Trenton, Chambersburg. Man or Woman. Often seen wearing black leather, gold crosses or medalions, big hair, and sunglasses at night.
by sweetbabette October 27, 2007
Get the burger bit mug.You walk down the street and all the young punks whistle at you.
A nice bit of old,
Just goes to show what you can achieve with the right attitude.
- Ray Davies "Don't Forget to Dance"
A nice bit of old,
Just goes to show what you can achieve with the right attitude.
- Ray Davies "Don't Forget to Dance"
by slumdog January 27, 2009
Get the nice bit of old mug.