Answer:
Something wholly unreal, yet seems real to I. Think my friend, tell me where does it lie?
I have one, you have one. If you remove the first letter, a bit remains. If you remove the second, bit still remains. If you remove the third, it still remains.
Three little letters, a paradox to some. The worse that it is, the better it becomes.
You throw away the outside, eat the inside, then throw away the inside. What is it?
What is as big as you are and yet does not weight anything?
What is so fragile that saying its name breaks it?