The discussion centers on the function of the 104 capacitor in dynamos, particularly in toy motors. It is identified as a 100nF capacitor, primarily used to suppress electrical noise generated by sparking at the motor's brushes. The placement of the capacitor close to the noise source is noted as good practice. The term "dynamo" is clarified as an outdated reference in the US, historically used for DC machines, while the discussion also touches on the evolution of terminology. The importance of bypass capacitors in motor control applications is acknowledged, highlighting their role in noise reduction.