What does insert coin mean?

On Crosscounter Mike Ross and Gootecks sometimes send messages that include the Microsoft Points symbol. I know this is a legacy from old fighting games where you had a button for insert coins that had a specific sound.

What does it actually mean? I know you could input it once, twice and thrice and it had different meanings.

It means to insert a quarter up your ass and play yourself.

It means another player can join, or in arcade ports you can hit a button that gives you more credits/lives/tries/whatever.

It’s a relic from the pay to play era of arcades.

The fact this thread exists makes me feel old.

I thought it was some kind of insult. Something like: pressing insert coin 3 times == “You are free.”

I can vaguely remember that there was a common understanding between online players, as they could not communicate otherwise.

But I guess this was not that common after all.