In the Western States after the War with Mexico U.S. coins were not commonly circulated; however the peso ( Mexican, Spanish) was common. The exchange rate (circa 1849) was one peso to one dollar. To convert small change the peso was cut in eighths. One eighth was one bit of a peso, or 12 and one half cents. Two bits was 25 cents and so on. The expression two bits or four bits or six bits is still used in this manner in the Far West, especially in Northern California.
by The Bay Area Professor April 10, 2012
Acronym standing for "booze in transit". Used widely in urban environments as a time-efficient pregame on trains, cabs, and for the irresponsible, automobiles while en route to one's final destination.
by gflonu August 1, 2009
A hot girl. Only used to describe girls you want to fuck. You can't say, for instance, your friend's mom is a bit. Unless she really is, in which case go for it, you fuckin dog.
Shortening of biddy.
Shortening of biddy.
Damn son, did you see that bit walk by?
Wow, what a bit!
Yeah man, I fucked that bit in half yesterday.
Wow, what a bit!
Yeah man, I fucked that bit in half yesterday.
by M Doug March 26, 2008
BInary digiT. The smallest unit of information on a computer/machine. A single bit can only hold one of 2 values, either 0 or 1.
by muad'dib August 26, 2003