1.85 oz. folding knife: Benchmade Bugout.

[MuddyWaters]

I don't think anyone (including you) was confused by what he said.

When asked what he would use it for while hiking, he explicitly countered that he had said he intended use it while backpacking, but would also bring it on dayhikes.

Indicating that to him, hiking and backpacking were not the same. For people here, they are.

[Maineiac64]

I have 3 benchmades, mini griptillian, regular griptillion, and a neck knife. All are really awesome instruments.

[Old Grouse]

I've learned to only carry cheap knives. I'll never loose a cheap knife, but will always loose an expensive one.

The same rule applies to pens. A Murphy's corollary?

[MtDoraDave]

I carry a Gerber Paraframe daily, and use it for all sorts of things. I have two. One for work that is rarely sharp and the tip is squared off from scraping paint out of a corner of a concrete building. It still cuts the tip off caulking tubes, it unscrews switch plates, it opens cans of paint, it helps get half dried paint off the paint brushes when cleaning them out... it really is a multi-tool with only one blade. The one I wear when not at work I keep sharp and don't abuse it, but it cuts shoe laces, opens plastic packaging, cuts tags off clothing, cleans fingernails... uses for it pop up all the time. For the same reason, I carry a knife while hiking.

Due to the higher likelihood of losing it, and the relatively heavy weight of the Gerber, while hiking I carry a walmart (not sure if it's Coleman or Ozark Trail) folding/locking pocket knife made out of stainless steel and plastic. Cost, about $3. I don't have a kitchen scale, but it's super light - probably under two ounces. It comes sharpened on only one side, but it has a sharp enough edge and tip. Sharp enough to pick out a splinter. Sharp enough to cut cordage. Sharp enough to whittle a stick into a spoon-like device after you lose your spoon. It's not very strong laterally, due to it's plastic handle, so care should be taken if whittling, but it's sufficient for most any knife need that comes along.
Cheap enough to never worry about sharpening it, just buy another one when it gets dull. However, the other day, I grabbed my old (dull) one when I had my Lansky sharpening system going, and managed to sharpen it enough to shave the hair on the back of my hand (my "is it sharp enough" test). If I was charging myself labor, it would have been cheaper to buy a new knife than to sharpen the old one - but I wasn't, so now my old one is sharp again.