/bit/
[ from the mainstream meaning and Binary digIT ]
n. 1. [techspeak] The unit of information; the amount of information obtained by asking 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.)