Bandwidth requirements for Skype/VOIP?

Guys, whats like the ok'ish bandwidth for making Skype calls?

Is a 128kbps connection okay -- uploads being around 8-10 kilo Bytes per second?

And how about conference calls between 3-4 people? What's the setup like for Skype?

Is it like one person with good download/upload hosting the conference and others joining in? Or is it like a 4-way system, everyone requiring good speeds?
 
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