> Or, should the first bit be bit one, the second bit be bit two, and > the third bit be bit *four*?
Or 'ones bit', 'twos bit' and 'fours' bit. Analogous to 'ones digit', 'tens digit' and 'hundreds digit' in decimal. I would use plural even if there can be at most one of them because zero takes plural. 1011 (binair) is the sum of one eight, zero fourS, one two, and one one.
