bit

( n.)

   [from the mainstream meaning and "Binary digIT"]

   1.  [techspeak]  The  unit  of information; the amount of information
   obtained  from  knowing  the answer to a yes-or-no question for which
   the two outcomes are equally probable.

   2.  [techspeak]  A computational quantity that can take on one of two
   values, such as true and false or 0 and 1.

   3.   A  mental  flag:  a  reminder  that  something  should  be  done
   eventually.  "I  have  a  bit set for you." (I haven't seen you for a
   while, and I'm supposed to tell or ask you something.)

   4.  More generally, a (possibly incorrect) mental state of belief. "I
   have  a  bit  set  that  says  that  you were the last guy to hack on
   EMACS." (Meaning "I think you were the last guy to hack on EMACS, and
   what  I  am  about to say is predicated on this, so please stop me if
   this  isn't true.") "I just need one bit from you" is a polite way of
   indicating  that  you intend only a short interruption for a question
   that can presumably be answered yes or no.

   A bit is said to be set if its value is true or 1, and reset or clear
   if  its value is false or 0. One speaks of setting and clearing bits.
   To  {toggle}  or  invert a bit is to change it, either from 0 to 1 or
   from 1 to 0. See also {flag}, {trit}, {mode bit}.

   The term bit first appeared in print in the computer-science sense in
   a  1948  paper  by information theorist Claude Shannon, and was there
   credited  to  the early computer scientist John Tukey (who also seems
   to  have  coined  the  term software). Tukey records that bit evolved
   over  a  lunch table as a handier alternative to bigit or binit, at a
   conference in the winter of 1943-44.

[glossary]
[Reference(s) to this entry by made by: {bit bashing}{bits}{byte}{crumb}{flag}{nybble}{toggle}{trit}]