TTL -> SPDIF -> TTL (why the capacitors?)

Just wondering why 0.1uF capacitors are used pre and post transmission?

When I put a scope on the line the skew of the signal is considerably worse. It may not matter (haven't got that far) but I don't see a reason to degrade a digital signal?
 

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On the receiving side a capacitor is needed to bias the first inverter as an amplifying stage, which is necessary because the S/PDIF swing is much less than the levels that an inverter normally works with. On the transmitting side, it's probably needed to meet the S/PDIF DC voltage spec. A DC level of 0 is convenient when you want to transformer-couple the signal to eliminate ground loops (you don't need to worry about DC current saturating the transformer core).
 
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