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ground zero - the point of detonation (or above or below) of a nuclear weapon. point - the precise location of something; a spatially limited location; she walked to a point where she could survey the whole street.
So what is meant by a floating ground is that it does not have a connection to the physical earth, so it's simply floating (not connected) relative to the earth. However, the floating ground serves as a 0V reference line. Ground also serves as a reference point in a circuit. It is a 0-volt line of reference.