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Try and adjust shadows and highlights in a jpg vs a raw file and see what happens. There is no data there in the jpg just black and white blown out. Raw file you can brighten the shadows and find moth man standing there with a little extra sensor noise.

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harrall 11 days ago | parent [-]

Are you adjusting an 8-bit JPG (probably) or a 12-bit JPG (rare)?

Try adjusting a 8-bit RAW file and you will have the same problem.

You are conflating format and bitrate.

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stephen_g 11 days ago | parent [-]

Yes and no. Your point about bitrate being important is correct, but you're still largely wrong.

The actual main thing about RAW is that the transforms for white balance, gamma, brightness, colour space, etc. haven't yet been applied and baked into the file. With JPEG, at least some of those transforms have already been applied, which then limits how mucn you can do as opposed to starting with the untransformed sensor data.

You could definitely do much more with a 12-bit JPEG than you could with an 8-bit JPEG, but still not as much as you can do starting from RAW data.

	▲	redeeman 10 days ago \| parent [-]
		the absolute main thing is debayering, and yeah, then colorspace transformations etc