twirling baton

from Jargon File (4.4.4, 14 Aug 2003)
twirling baton
 n.

   [PLATO] The overstrike sequence -/|\-/|\- which produces an animated
   twirling baton. If you output it with a single backspace between
   characters, the baton spins in place. If you output the sequence BS SP
   between characters, the baton spins from left to right. If you output
   BS SP BS BS between characters, the baton spins from right to left.
   This is also occasionally called a twiddle prompt.

   The twirling baton was a popular component of animated signature files
   on the pioneering PLATO educational timesharing system. The archie
   Internet service is perhaps the best-known baton program today; it
   uses the twirling baton as an idler indicating that the program is
   working on a query. The twirling baton is also used as a boot progress
   indicator on several BSD variants of Unix; if it stops, you're
   probably going to have a long and trying day.
    
from The Free On-line Dictionary of Computing (8 July 2008)
twirling baton

   <graphics> The overstrike sequence -/|\-/|\- which produces an
   animated twirling baton.  If you output it with a single
   {backspace} between characters, the baton spins in place.  If
   you output the sequence BS SP between characters, the baton
   spins from left to right.  If you output BS SP BS BS between
   characters, the batton spins from right to left.

   The twirling baton was a popular component of animated
   signature files on the pioneering {PLATO} educational
   {time-sharing} system.  The "{archie}" {Internet} service is
   perhaps the best-known baton program today; it uses the
   twirling baton as an idler indicating that the program is
   working on a query.

   [{Jargon File}]

   (1995-02-23)
    

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