What is a bit? (lowercase b)
The smallest possible unit of data a computer can process, interpret, or store. A bit is always binary in nature, this means that it has two states; we typically represent bits with a 1 or a 0.
What is a byte? (uppercase B)
A byte is a sequence of 8 bits, this is the smallest unit of memory. A byte is typically referred to as the minimal amount of memory to represent one character.
What do you do when you add a bit to a sequence?
Increase code potential by a factor of 2.