The floppy is dead. Long live the bit!
Let me date myself right off the bat by saying that the first computer I personally owned had a single 5" floppy disk drive, and of course NO hard drive. Not only that, but the drive was single sided and low density, meaning that its capacity was 80 kilobytes, or about 8 percent of a single megabyte. If you wonder how we were able to do anything useful with something so small, you're right, it was a challenge.
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Keep in mind that at the time pretty much all software was being distributed on floppy disks. As software grew in complexity and features (often known as "bloat") the number of disks required began to get ridiculous. Windows 3.1 came on about half a dozen of them, but the first version of Windows 95 needed a set of sixteen. Soon we were all maintaining shoeboxes full of disk sets, many of them rubber banded together, with no relief in sight.
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Of course it was only a matter of time. Now with terrabyte hard drives, multi-core processors, and multi-gigabytes of RAM we expect our PC's to burn CD's and even DVD's while simultaneously browsing the Internet and playing music. The age of coastering your CD are pretty much passed. Software continues to grow, but we're still in the range where even a lavish production like Adobe Creative Suite can fit on a small set of DVD's including the instructional video. And now high speed internet connections and plentiful space for online storage are threatening to obsolete even optical media. Why bother to keep a disk at all when you can just grab a newer version of whatever it is from an online source whenever you want it?
There's an interesting footnote here about Iomega and the Zip drive -- a technology that could have replaced the floppy for at least a period of time, and nearly did. By using Bernoulli's principle of air flow to "fly" the drive head closer to the magnetic surface of the disk, Iomega succeeded in producing a perfectly useful 100 megabyte disk that was not much larger than the venerably floppy. But they shot themselves in the foot by continually introducing new formats that were not backward compatible. Combined with their failure to license the technology to other manufacturers, the Zip disk remained a niche product until it, too, was rendered obsolete.
By what? The lowly flash memory chip of course. For who would continue to carry around a portable Zip drive and its assorted disks when you could wear a few gigabytes on your key chain? And so it goes. Now after a run of almost 30 years, Sony -- the last major manufacturer to still sell them -- has announced they will discontinue 3" floppy disks. So the floppy is dead at last. But those bits just keep coming.
[Just because they're no longer mass marketed doesn't mean they are not still used and produced. One company, for example - Athana (http://www.athana.com) - will still sell you any size or format of floppy you might need to keep your ancient mainframe or dedicated wordprocessing machine fed. But how much longer will they be readable now that the hardware is obsolete?
It doesn't take long for this to happen. Once a customer brought me a whole shoebox full of 5" floppies to see if I could read and restore them. This is what they had been relying on for backup for years. Not a single one was readable.]