How much is a bit?

Answer 1

It depends on what it is a bit of, as everything is relative, but the term usually refers to a small fractional unit. In time, a bit can be a few minutes from an hour, or an hour or two from a day. In American money, 25 cents is two bits, and 50 cents is four bits, meaning that a bit would be twelve and a half cents. The terms "two-bit" and "four-bit" are thus used in reference of other things to denote them as inconsequential.

one bit is 12.5 cents.