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When discussing the number of colors perceptible to the human eye, I tend to refer to the 2.4 million colors of the CIE 1931 XYZ color space. It is a fairly solid, scientifically founded number, although I do admit it may be limited in context. I think it may be possible for the human eye to be sensitive to 10-100 million distinct "colors" when referring to both chromaticity and luminosity.

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