Is Mbps the same as MBps?

well I was looking at getting Version DSL and they said "speeds up to 3.0 Mbps"
does that mean 3 Megabytes per second or 3 megabits per second. and what exactly is the difference
 
practically all companies use megabit/s because it is considered the standard for transfer rates. My ISP is upgrading to 10Mbs download here :):) as soon as i go away to collage... :(
 
if you want to get to the nitty gritty of it. In an octet, Binary Word, each letter is a bit and 8 bits make a word, other wise known as a byte. an example of such would be 10110011
 
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