Originally posted by: Gobadgrs
what is a lossy format?
Where you lose information due to compression.
Like to make an mp3 file from a wav file, certain sounds are cut off, and basically you lose them forever. Converting back to a wav file again will not give you the file you started with, you have lost stuff.
If you then reconverted that to another format, you would lose more information, further degrading the quality.
Lossless is where you don't lose information, a bit like when you zip up a file, it makes it smaller, but you can reproduce the original.