bit, bitt

Bit or bit means a small quantity, a morsel, literally or figuratively --
Would you like a bit more cake?
We'll be home in a bit.
He has a bit part in the new play.

Bit is also the past tense of "bite", meaning to cut or tear with the teeth, to sink the teeth into --
A mosquito bit him, and he can't stop scratching.
That dog nearly bit him!

Bit may also mean the mouthpiece of the bridle of a horse --
Just put the bit between his teeth; he'll get used to it.
He is champing at the bit.

Bit may also mean the cutting or boring piece of a drill --
You'll need a larger bit to make a hole for this bolt.
Use the chuck to change the drill bit.

Bit may also mean a unit of information, as in a computer program --
One bit of information is a single digit.
A bit is equal to a "1" or an "0".

Bitt or bitt ( rhymes with bit ) means one of a pair of posts sticking out of a dock, or the deck of a ship, used for securing lines or cables --
Secure the lines on the bitt, like this.
The cable will be wrapped around the bitt like a figure "8".

Now that you know that, you can say --
"Stay here a bit, and release the lines from the bitt when I give the signal."