Monitor with built-in color profiles, which one to use, and why?

DrTebi

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Hello,

I have a new monitor (LG 31MU97) which offers to switch to different color profiles. I have e.g. Custom, Adobe RGB 1998, sRGB etc.

From what I have read here and in other places, I should calibrate my monitor myself... but before I do that, I have a few questions:

1) What purpose do the other color profiles have that the monitor can be switched to?

2) If I do my entire workflow in Adobe RGB 1998, shouldn't I then set my monitor profile to Adobe RBG 1998 as well?

3) My operating system has it's own method of setting color profiles. How do these relate to the monitor and its profiles?

4) Finally: For sharing images on the the web (in the digital domain), it seems to be the standard to convert to sRGB. How would I then have to set my monitor, if I convert images to sRGB at the final stage?

I find color profiles nothing but confusing... I started reading about it in a couple of PS books, but most books talk about color profiles in terms of printing, as opposed to consistent color when photos stay in the digital domain.
 
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