You've Either Got It or You Don't
Riddles are little poems or phrases that pose a question that needs answering. Riddles frequently rhyme, but this is not a requirement.
I will take down and I will take up
I won't give down but if up you're in luck
I'm up and down but without a wave
From fruitless journeys you do I save
I represent by my position
A simple binary condition
What am I?
Hint
If not for the one whose successor is prefixed with an "e"
Neither I nor my companion would have a reason to be.
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Answer
The flag of a mailbox
lines 1 and 2:
I (the flag) can take/receive (more) mail whether I am down or up.
If I am down, it means that I have no mail to give. But if I am up, then you're in luck (I have mail for you).
lines 3 and 4:
I don't wave like some other flags.
When I'm in the down position, I save you from going to the mailbox to discover that there is no mail.
lines 5 and 6:
I'm either in the up position which means that you have mail, or I'm in the down position which means that you have no mail.
In the hint, "the one" is mail whose successor is e-mail, and "my companion" is the mailbox to which I'm attached.
The "It" in the title is mail (as in "You've Got Mail").
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