Powersliding: A mechanism used during a corner by using more horsepower during the corner. In GTA's physics, though, basically you just press the handbrake for a quick second (and the Banshee 900R can do this quite easily) and the banshee will downshift, causing to bump the redline and give you more horsepower.

Drifting in my definition would be turning early before the corner and holding your overdue until you finish the corner. The Futo is excellent at doing this without a problem. If you're drifting, make sure you oversteer before the corner and hold your angle sideways, like in your video, OP.

I don't do drifting or powersliding in this game, so take my comment with a grain of salt. I use the term powersliding on AWD cars since they tend to oversteer during corners at times (plus it's annoying to find people in a Sultan RS saying "Look at this amazing drift! When it's only using your handbrake and putting your car sideways for a second and then it straightens out after that).

In the other hand, I kind of don't like the air filters hanging out of your Banshee, OP. But that's just personal preference.