I'm very new to this hobby, calling me a novice or a newbie is a drastic over statement. I'm trying to figure out what the differences are between the f16v3 and the f16v4. I understand there are some improvements to the board but what are they exactly? I've also read that you have to use the same style lights when you use the v4, what does that mean exactly? smart vs dumb, 5v vs 12v? Any information or advice would be greatly appreciated.
I think this video from the Virtual Christmas Summit covers your questions.
There is also a comparison spreadsheet of the controllers at pixelcontroller.com