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The transfer rate expressed as kilobytes per second is based on 1024 as per data storage conventions.
FYI : Kb = kilo bit KB = kilo byte Mb = mega bit MB = mega byte
The computer industry has tried to standardize the meanings of binary prefixes. There is ambiguity in how the old nomenclature is used. There is now a more precise standard that is more precise when describing bit and byte quantities. Kibibyte = 2^10 bytes = 1024 bytes Mebibyte = 2^20 bytes = 1048576 bytes and others http://en.wikipedia.org/wiki/Binary_prefix which is part of http://en.wikipedia.org/wiki/IEC_60027 This standard attempts to overcome ambiguity. Yes it is change and is annoying but it's very specific and guarantees what you write is what others will read.
Be clear. Label the Kb on the main screen to be Kilobits or Kilobytes. I'm still not clear which you mean. The 1024 vs 1000 is a detail in this context.
lower case b means bits, upper case B means bytes. So Kb is always kilobits. Kilobyte would be KB
Just for information, "k" meaning "kilo" should be always low case - "k", never "K". Upper case is simbol of "Kelvin", unit for absolute temperature.
Per ISO and NIST a lower case 'k' is the proper prefix for the 1000s multiplier kilo. The upper case 'K' does not represent kilo (http://physics.nist.gov/cuu/Units/prefixes.html). As was previously posted, the Kibi (Ki) prefix is used to represent 2^10, or 1024 decimal as a multiplier (http://physics.nist.gov/cuu/Units/binary.html). Also, technically "bit" is the proper abbreviation for "binary digit", not 'b', whereas 'B' is generally - but not always - understood to be an 8-bit byte. A kilobyte per second would be 1000 x 8 bits/byte = 8000 bits per second, whereas a Kibibyte per second would be 1024 x 8 bits/byte = 8192 bits per second.