How Much is a "Bit" Worth?

[Frith is Magick 1,471]

As to the value of a bit in Equestria, that would depend on the economy. While the terminology may derive from an american currency, the buying power itself is different.

 

Equestrian economics work much like RL economics, supply and demand. Gems and apples are very common, and thus they are cheap, while cherries (much like in RL) go for a relatively high cost. We also do not know what they have for taxes or profit margins, thus we do not know the true value of any of these reference products. If we assume they have no tax and no profits, then the bit likely worth 1/10 or less of a dollar.

 

Because Equestria has a large supply of gems, one can argue that they are a wealthy nation and the bit is strong. One bit of diamond could easily be over $500 in RL. I know I am contradicting myself, but my point is that they have a completely different economy, making speculation difficult.

[Graveyard Duck 150]

Has anyone tried to analyze the currency of Equestria? It doesn't seem to come up often in the show, but has anyone figured out anything like an exchange rate for bits to any real-world currency?

[RNgineer 161]

last time I checked which was a couple months ago 1 bitcoin was $1,200.00.....i haven't mined in a while since I've been super busy or kept up with the exchange market

Edited May 25, 2014 by RNgineer

[Graveyard Duck 150]

last time I checked which was a couple months ago 1 bitcoin was $1,200.00.....i haven't mined in a while since I've been super busy or kept up with the exchange market

 

 

Then a bag of apples costs $4,800. I'm now convinced that they're laced with drugs.

[RNgineer 161]

Ponies do economics better than real life

[Graveyard Duck 150]

Looking at this video, though, I'll try to offer some of my own insight.

 

I can (very very roughly) estimate that there are about 20 apples in Bon Bon's bag. Good-quality apples are usually about $0.50 each at a supermarket, but those apples seem to be on the large size so to be safe I'll use a price of $0.75 each. Then, Bon Bon's bag of apples would cost $15. Therefore, a bit should be somewhere in the ballpark of $3.50 to $4.

 

Can anyone back this up?

Edited May 25, 2014 by Graveyard Duck

[SparkFlare 1]

A bit could cost probably a dollar or more, I'm not sure, but the last time I checked, a bit is $1.00, but then again, in an episode where applebloom was invited to diamonds quinceanera, she dumped a bucket load of apples into bonbons bag and said "That'll be four bits!", so I wonder if a bit costs more than a $1.00, because that bag of apples would probably cost $10.00, no?

Edited May 25, 2014 by SparkFlare

[Venomous 18,813]

I would think it's a totally different currency. I don't think 1 bit would be the equivalent to $1.

[pony.colin 156]

For other reference to use, the 1/2 bit for 3 tomatoes scenario:

 

 

Seems prices might be negotiable (if your Pinkie Pie that is).

[Untitled Goose Q 5,136]

I don't think we can set up an exchange rate, given that the prices of apples in our world can be different from place to place, we need more examples to judge.

 

So I would say a bit is worth one bit, or twice as much as half a bit, or half as much as two bits.

[Graveyard Duck 150]

For other reference to use, the 1/2 bit for 3 tomatoes scenario:

 

 

Seems prices might be negotiable (if your Pinkie Pie that is).

 

Ok, let's apply the same logic to this situation.

 

Tomatoes in a supermarket are usually about $0.30 each. Three tomatoes would then cost $0.90. So then a bit is worth either $0.90 or $0.45? That's a huge difference from the value derived from the apples! @_@

[Flutter's lover <3 8,204]

I think it's more along of a game like Skyrim, where they use gold pieces as currency.  1 bit would equal 1 Gold,  I know in Skyrim I can sell an apple for 1 Gold.

[pony.colin 156]

Ok, let's apply the same logic to this situation.

 

Tomatoes in a supermarket are usually about $0.30 each. Three tomatoes would then cost $0.90. So then a bit is worth either $0.90 or $0.45? That's a huge difference from the value derived from the apples! @_@

 

 

Yeah it's kind of a big scale difference.  We haven't had a good reference point of getting a full grasp of the value worth of items in Equestria.  So it's kind of vague (which is nothing new in this series unfortunately.)  I figured Applebloom was under-selling the apples (imo)

And if you want to complicate matters a little bit more, about how much are those gems that Rarity keeps throwing around throughout the episode 'Rarity Takes Manehatten'

 

 

At parts 0:26, 0:43 and 1:38   - because those things are a dime a dozen around ponyville's bedrock plains, so one wonders if they might depreciated value?

Edited May 25, 2014 by pony.colin

[Rainboom Dash 1,055]

I always thought 1 bit was equivalent to 1 dollar.

[Pastel 7,627]

I think a bit is less than a dollar.

Remember that cherry in Putting Your Hoof Down?

It cost 2 bits.

[Everleaf 541]

I at least think a pound but I do not know for sure...

[K.K. Slider 391]

IIRC the writers intentionally muddle its value (also with gems) to intentionally make it difficult to figure out.

[Ianpiersonjdavis 512]

I think a bit is less than a dollar.

Remember that cherry in Putting Your Hoof Down?

It cost 2 bits.

 

Yeah, but wasn't that guy trying to rip Fluttershy off?

[boiteporte 591]

No, that guy was asking for 20 bits. However, the normal price that the other pony paid was 2 bits.

[Magic Twinkle 204]

The bits don't seem to have an exact value, nor a possible exchange rate (or then Equestrians just have strange prices ).
Here's some what the MLP Wikia has to offer:
 

Bag of apples 3 gold bits

Apple pie 2 gold bits

Apple fritter 2 gold bits

Mug of apple cider 2 gold bits

Asparagus (1 bundle) 1 gold bit

Tomatoes (bunch of 3) 2 gold bits (2/3 of a gold bit per Tomato)

Cherry 2 gold bits

 

Kisses and guess your weight, age or sex - 1 bit...

 

Read more here.

TL;DR: The bits' value is impossible to determine.

Edited May 25, 2014 by -Vinyl Scratch-

[Ragland Tiger 3,297]

If I recall American history correctly, a bit was a coin equal to 1/8th of a dallar, thus  "two bits" would be 25 cents.

But in Equestria, who knows?

Edited May 25, 2014 by Ragland Tiger

[Karma Lightwing 245]

I think putting buts up against our value would be hard. Products in equestria costs differently and the only thing we can say for sure is that 1bit is most likely the lowest form of currency.

[firetorn 187]

Someone already did a pretty good analysis of this http://thing07.deviantart.com/art/Bits-Dollars-Conversion-Theory-198512195

[Frith is Magick 1,471]

Well a bit is approximately half the value of an opinion, and the current exchange rate on those is a penny for your thoughts, so a bit is about $0.005. Anyway, that's my two bits on it

[Courageous Thunder Dash 7,809]

A bit should be worth 25 cents. Four bits would be a dollar.