Dipak,
I found that a very original and fascinating essay, carefully constructed and argued and certainly with some likely truths. I liked your
"intrinsic quantization in both 'bit' and 'it" qualified by "observers (like us) have a natural limit to detect the nature non-digitally, even if it would be non-digital anywhere in its deeper levels"
I did felt the lack of a comprehensive definition of the difference between digital and analogue as you saw them, but that wasn't important as it allows each reader to apply his own if he wishes. I'd none the less be interested in your specification.
Finally I very much liked and agreed with your concept of time as a left handed flow and Inertial Anti-time: "there would be a mirror image counter part of t" That is somewhat consistent with a finding of my own in an earlier paper on astrophysics (not discussed here), but a very original approach.
Lastly the important; "Special Relativity Principles correspond to c becomes Local", which I also argue and rationalise in my last two essays here, but still seems poorly understood by most. Some consequences of that model are applied to build an ontological construction in my own essay with, I hope interesting results. I hope you can find a chance to read and rate it. Your own position is ridiculously low and I'm very glad to assist you to a better place.
Well done
Peter