Oh, my. Some confusion here...
Bitrate is network, or streaming content. Like a 128 Kbps MP3.
8, 16 or 24 bit is bit depth. A CD is 16 bit, fi. And that's sufficient for playback. It's 96 dB dynamic range. Very loud. For recording, you might want 24 bit if you're gonna edit that recording later.
Recently, some pseudo 32 bit devices have surfaced. Yet a 32 bit audio DAC or ADC doesn't exist. It's not a lie, though. You can emulate 32 bit audio by using two ADCs or DACs. One of them treats the lower part of the wave and the other one the upper half. Some clever math combines the two 24 bit signals into one 32 bit signal. A big advantage in recording, if you have sudden burst of signal that exceeds the 24 bit range. Like in news gathering. In a usual studio, you don't need it.
For playback, none of this matters one bit though.
That's why the only two choices are 16 and 24 bit. That's what's available.
And even 24 bit is overkill for playback. You simply can't hear the difference. Even if someone invented a really new speaker it would be utterly useless as human hearing can't handle 32 bit dynamic range. Hec, we can't even handle the 144 dB dynamic range offered by 24 bit. The top is far above the pain threshold (120 dB) and the bottom is far below the noise that is present even in an extremely quiet listening room.
MB Pro - 2 X FireFace 400, FF800 & DigiFace USB
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