[barbazoo]

What is a bit, a penny?

[dec0dedab0de]

1/8, so 2 bits is a quarter.

it comes from old spanish coins that they would cut into eight pieces, or bits.

I learned that after watching one of the pirates of the Caribbean movies and googling pieces of eight.

[retrocog]

THIS exactly and oops, I replied too quickly :)

[patrickthebold]

Half a quarter.