I have a newbie question. I see on the project page where people have done some really nice work and they’ll say I used a 1/16 bit … ok I have no ideal which bit they are talking about I know V bit, up & down so far, so looking for guidance on what they mean and what bits to use on some cuts at times. I am learning slowly.
1/16" bit = a straight, flat bottom bit with a cutter diameter of 1/16".
Upcut = spiral shaped cutter edge lifting the chip up when cutting
Downcut = opposite to above, press it down.
Compression bit = Upcut at the bottom and downcut on the top. Designed to carve at full depth only, otherwise it act as upcut only. Designed to eliminate fuzzies at top and bottom edge of sheet like plywood etc.
V-bit = angled bit with an infinite tip
Tapered bit = angled bit with a finite tip, with a specific radius to it.
Bull nose = partially rounded bit with partially flat bottom.
Ball nose = circular diameter bit (say 1/4" bit and it has a 1/8" radius to its tip essentially making is a true half sphere)
Burr bits = grinding bits intended for porus materials like fiberglass boards etc.
Thats the short story 
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Thank You, So many bits and I don’t really know what they do and I don’t want to just go buying stuff to gather dust. I watched a few videos and figured I would use V bits so I got 60 & 90 in 1/4 shank and 1/8 not sure if that will make a huge difference. So I guess you only know when to use what bit and when through experience? like 1/16 or 1/8 , 1//4
Not much to it when it comes to diameter.
All else being equal, use the largest diameter bit you can.
I’d only use a 1/16" if I absolutely needed that level of detail. That said, the smallest end mill I own has a diameter of .005" (I think that’s the smallest I have)