Fire and brimstone coming down from the skies! Rivers and seas boiling! Forty years of
darkness, earthquakes, volcanos, the dead rising from the grave! Human sacrifice, dogs and cats living together... mass hysteria!
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When you connect a speaker with a high impedance rating to an amplifier, the speaker "pulls" current from the amp. When you connect a speaker with a low impedance rating, it will pull more current. Connecting a 4-ohm speaker to a given amplifier will draw twice the current from that amp as connecting an 8-ohm speaker to the same amplifier would. Amplifiers that cannot handle this doubling of current demand from speakers have speaker impedance switches with a setting for 4-ohm speakers and another one for 8-ohms. This switch is nothing more than a current limiter (in the 4-ohm setting) that prevents the amplifier from frying itself when trying to provide current to a 4-ohm speaker above its capability. Naturally this also limits the output power of the amplifier (as well as dynamics, etc.). This risk of overtaxing an amplifier with too high a current demand from the speaker only becomes significant at high listening levels. At moderate levels, the amplifier will be operating at much below its maximum capability anyway, so a doubling of the current demand would not be likely to push it past its limit. Technically speaking, of course...