What is the meaning of Bit_bucket?

A container for holding chad (small punched-out pieces of paper) from paper tape or punch cards used with teleprinters, early computers, and other machines.

An imaginary domain that accepts lost, discarded, or useless digital data that does not reach its intended destination, such as data lost in transmission or due to errors; the notional resting place of lost or missing digital information.

To delete.

Source: wiktionary.org

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