Víti

As defined by A Concise Dictionary of Old Icelandic (Geir Zoëga):

víti Old Icelandic word can mean:

víti

n.

víti

1) punishment; skapa e-m v. fyrir e-t, to punish one for a thing; fá, taka v., to suffer punishment (Þorgils segir, at hún skal v. fyrir taka); láta sér annars v. at varnaði, to be warned by another’s woe;

víti

2) fine, mulct, = févíti (gjalda ~);

víti

3) sconce, = borðvíti; en er kom at jólum, vóru v. upp sögð, but when Yule came the sconces were declared.

Possible runic inscription in Younger Futhark:ᚢᛁᛏᛁ