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"crypto" as a prefix also used to refer to other things, not to mention the absolute absurdity of the term "web3" for an ecosystem that has yet to produce even a single key mainstream application... I'm going to go out on a limb here say that maybe the people using the prefix in that way don't particularly care about whether their terminology is informative as much as whether it conveys the narrative they want.

It was popular for BitTorrent but torrenting isn't as popular these days

No, I’m explicitly wondering if it’s “bit as in Bitcoin” because there’s mention of sending a few satoshis.

Been shilling crypto since 2016 and never heard "Bit" as a reference to bitcoin. Common are: Bitcoin, BTC, satoshis, sats, crypto, bitkorns, space cash.