Mbps MB/s Kbps and KB/s

I am sick of people getting this confused, though it truly is confusing it is still annoying me so here is something to help you lay people out and hopefully shut you up jest a little bit mmmmk.

The basics...

Mbps = Megabits per second
MB/s = Megabytes per second
Kbps = Kilobits per second
KB/s = Kilobytes per second

Also to be fair it should be denoted as MiB and KiB as they are not really Mega (million) or Kilo (thousand) they are Kibi(2^10) and Mebi (2^20) Bytes (Kilo Binary Byte and Mega Binar Byte respectively)

Basically, internet throughput (speed) is measured in bits not bytes, which is where people really get tripped up, and thereby irritate me...

Example:
Joe Dumbass gets Comcast internet (obvioiusly, him being a dumbass) he sees it advertiesd at 4.0Mbps! he thinks to himself,
"Wow, what a great deal, that is sooo fast!"
He signs up and after waiting a week for a technician to come and put a cable in his wall, and two days on hold with tech support he is on. He installs a p2p app and goes on for the latest Ashley Simpson tunes.... but oh no! He only is downloading at 512KiB/s! Alas, he calls Comcast and bitches on the line about how he isn't getting what he paid for, wah, wah, blah, blah.

Problem explained:
4.oMbps = 4.oMegabits per second = 4096 bits per second = 512 Kilo bytes per second
though he was thinking
4.0Mbps = 4.0Megabytes per second = 4096 bytes per second which is not true (nor is it true that he would have the mental capacity to get past the first part of the equation)