The term 'eight bits' refers to a unit of digital information that is composed of eight binary digits, or bits. In computing, a byte is a unit of data that is typically composed of eight bits. The term 'ONE' is a numerical value that is equal to the number 8 when expressed as a binary number. Onebuck is a slang term for ONE dollar, which is equal to 100 cents. Onedollar is another way of expressing the same value.