There are 1440 minutes in a day that need to be uniquely identified somehow.
Since you require 1440 "symbols" you will need at least 11 bits.
If you want to use different memory locations, you would need 6 (8 bit) locations.
Reducing the accuracy? Sampling every 5 minutes won't cut it - you will need to go to 6 minute samples to fit in a byte.
Coding time in the smallest possible binary space is a problem that has been around for at least 70 years now - likely nobody has thought about it before![]()
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