I remember reading the Dave has "lossless" digital volume control, but I actually never saw the specifics of how they achieved this and the lack of detailed info immediately raised my BS flag. Digital volume attenuation without bit loss is impossible. Perhaps Chord is controlling the volume in the analog stage and it isn't really digital?!? The only way I could see Chord's "lossless" digital control working is if they jacked up the digital volume processing to 32 bits as this would (probably) reduce bit loss beyond the level human hearing...but that still isn't "lossless". If that's what they did, then they should call it something else because as stated, Chord means "lossless" in the same way MQA meant "lossless" haha.
The amount of baseless claims, paid-for-reviews, and propaganda in the audio industry is absolutely stunning.
I hear you. I remember reading an explanation from Rob Watts somewhere - but I don't remember where.
Anyhow, I have used Dave in preamp mode as well as in DAC mode - and I, for the life of me, can't detect any changes in sound quality. I'm also severely attenuating the signal so in some cases I'm at -25. I had an Auralic Vega that sounded like crap as soon as you were 10 steps away from 100%. Same thing with a Bricasti M1 - so I have heard the negative effects digital volume control can have.
I don't agree with everything Rob Watts says (for instance I like the sound of R2R DACs), but based on my ears - both my Chord Dave and Chord Hugo 2 sound completely transparent regardless of attenuation. Is it completely lossless? I don't have any idea as I don't know the engineering enough. That said, it is quite good to my ears.
EDIT: For those interested, here is Rob Watts technical explanation https://www.head-fi.org/threads/chord-electronics-dave.766517/page-1176#post-16468645
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