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Read the pdf https://arxiv.org/pdf/2402.17764.pdf they call it 1-bit everywhere.

I don't know why do they do this, 1-bit seems to be a very wrong name for {-1, 0, 1}.

I think 0 "doesn't count", since you don't have to add or subtract anything for it, just mask it out.

Ternary or three-value logic is a thing in CS[1]

Would be cool to see what happens if you quantize towards zero preferentially. Sparsifying the matrix should improve inference speed directly, right?

Yes Technically, but it is catchy for the masses. 1-bit seems to get the idea across, even if not technically describing {-1,0,1}.