BitCoin. It doesn't mean anything purely from an english language angle. A person totally new to english would think, 'Bit-Coin, it must be a part of a coin, but then how can you have a bit of a coin'? I know thats what my mind says.
On the other hand if the technology was called for arguments sake Digital Currency, straight away, i would know exactly what it is - currency / money that is in a digital form.
Even other money systems are named in a way to help people know what they are: PayPal - makes paying for things easier - pal.
PayPass - when using my Mastercard i can hold the chip against the machine and it will pay, without any swiping or entering any numbers.
Does anyone agree, disagree?
Bit is a computer science term. It is the base unit of information that is stored in a computer. So, yeah, I totally disagree with you. Bit-coin makes 100% sense.