Step 1 :The question is asking for an algebraic expression that represents 'one-eighth of a number reduced by eight times the same number'. In this case, the 'number' is represented by the variable $x$.
Step 2 :Break down the phrase as follows:
Step 3 :'one-eighth of a number' can be represented as $\frac{1}{8}x$ or $0.125x$.
Step 4 :'reduced by' means subtraction.
Step 5 :'eight times the same number' can be represented as $8x$.
Step 6 :Putting it all together, the algebraic expression is $\frac{1}{8}x - 8x$.
Step 7 :Simplify the expression to get $-7.875x$.
Step 8 :Final Answer: The algebraic expression is $\boxed{-7.875x}$.