You might want to look into this:
https://www.ponomusic.com/ccrz__CCPage?pageKey=aboutus
I'm one of the lucky ones - I can't hear the difference ;-)
Interesting, but IMO, there is a huge difference in comparing 16bit PCM to 24 bit PCM, and comparing 16 bit PCM to lossy compression like mp3.
There simply is no question that lossy mp3 throws away some of the sound. That is what it does, by design. Whether it is an audible difference can be debated, but it throws away audible parts of the sound (that may be masked by other sounds... or maybe not).
But I've done my own tests, and other sites have explained this - 16 bit really covers a very wide dynamic range. And due to dithering, sounds below 96 db
are reproduced (along with some noise). I remember the argument that vinyl could capture signals below the noise floor (you hear the tone, along with the surface noise), but it was thought that digital was all or nothing - that below 96dB, the tone simply would not be reproduced at all, it was below the threshold of the converter. But dithering brings this signal above the threshold as the signal rides the noise. Shaped noise dithering pushed the noise up into a frequency range that we are less sensitive to, but still provides the benefit to the converter. It's close to magic!
Bottom line, 16 bits captures more dynamic range than I can hear. So if 24 bit is 'better', it is better in a way that is already below my threshold. I've found I can barely detect a signal about 85 db below full scale, with good headphones and a good DAC, with signals sweeping the most sensitive range of hearing (1,000-4,000 Hz). And a -105 db signal is still reproduced by this system (I can amplify it by 48 db, and it is there, among the noise). So going beyond 16 bit just doesn't seem advantageous (other than for recording and processing, which require more headroom).
I'm still testing myself on this, but grow more confident with each test I do. 16 bit good enough.
Here's a site with some excellent examples of what dithering can accomplish:
Dynamic Range, Dithering and Noise Shaping
They use 8-bit recordings, so the effects are more easily heard. You might be surprised just how good 8-bits sounds! Remember, 8 bits is just 256 different levels to represent the sound, while 16 bit is 65,536 levels. A major difference! Dithering helps tremendously, and shaped dithering makes the noise far less apparent.
As useful as those examples are, their example of 8-bit versus 16-bit 'music' are near worthless. They use 'songs' with almost no dynamic range, and tones that are all swishy-electronic sounding, so any distortion/noise are drowned out anyhow. 8-bits on a string quartet is going to be easy to identify, but you may still be surprised how 'not bad' it is.
-ERD50