Exactly! When you died the last touched letter is checked and turns red if it's wrong and green if it's correct. It's actually quite hard to survive and needs a bit of practicing with the controls. However dying is not a bad thing in this game.
I'm sorry, I should have made a tutorial thad explained the controls. Unfortunately, I did not have the time to do this. By combining jumping and dashing, where you get a new jump after each dash, you should be able to survive a lot longer. However the correct letters won't be checked if you don't die, so unless you want to collect 40 bits without dying, which is really hard if possible, you have to die anyways.
Thanks a lot for playing and for your feedback!