Two Bits. This in turn comes from the "pieces of eight" famed in pirate movies - Spanish silver crowns that could Be Broken into eight pie-slice-shaped "Bits" to make change. Early in American history the Spanish coin was considered equal to a dollar, so each of these "Bits" was considered worth 12.5 cents. Usage: rare. Synonyms: tayste, crumB, quad. See also nickle, niBBle, Byte, dynner. [Jargon File] (1995-01-25)