Does a pile of eight bitcoins equal a bytecoin? If so, then a single bitcoin would indeed be "a bit", because: "In the U.S., the "bit" as a designation for mone

Does a pile of eight bitcoins equal a bytecoin? If so, then a single bitcoin would indeed be "a bit", because: "In the U.S., the "bit" as a designation for money dates from the colonial period, when a common unit of currency was the Spanish milled dollar worth 8 Spanish reales. As a way of making change, these dollars were cut into eight pie-slice shaped pieces which were called "bits". (For this reason, the whole coin was known as a "piece of eight".) Each eighth-dollar bit was then worth 12.5 cents, "two bits" was a quarter of a dollar (25 cents), "four bits" was a half-dollar (50 cents) and "six bits" was 75 cents." http://en.wikipedia.org/wiki/Bit_(money)#United_States http://en.wikipedia.org/wiki/Bit_(money)#United_States