I am looking for a good definition of "bit time"

I found on a networking encyclopedia that "bit time is the same as bit rate
i.e. the ratio of the number of bits transferred between devices in a
specific amount of time, typically a second."

I am not satisfied by this definition. For example in the sentence "The
active monitor holds the token for 24-bit time"

how long is 24 bit times? (I am sure not one second!)

Thanks,

Pierre-Alex




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