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A megabit is 1 million bits, or 1/8th of a megabyte.
Although files are usually measured in megabytes, internet speed is usually advertised in megabits to make it seem faster.
A gigabyte is 1 billion bytes, although some people use 230, or 1,073,741,824 bytes.
A typical 2 hour standard definition movie is 4 gigabytes in size.