Nothing is commonly understood as the lack or absence of anything at all. Colloquially, the term is often used to indicate the lack of anything relevant or significant, or to describe a particularly unimpressive thing, event, or object.
Language and logic
Grammatically, the word "nothing" is a noun, which suggests that it refers to something. This can lead to confusion and forms the basis for a number of jokes. The simplest meaning is: no thing. So if "Nothing" is said to be in a particular place, have a particular quality, then it is meant that "no thing" is there, or has this or that quality. Nothing simply sounds better, and is simpler than no thing. And in any case, the word "naught" also has this same meaning.Its basic uses can often be restated to avoid this appearance: "There is nothing in the basement" can be restated as "There is not one thing in the basement" or "Everything is not in the basement" (which can imply that there is any quantity short of 'everything' in the b
Source:
http://en.wikipedia.org/wiki/none