Adobe RGB does have a larger "gamut", that is, it can display more colors. you do need to consider your intended output device when you edit, though. If your destination is computer display or the web, use sRGB. If you're gong to a printing service, make SURE that if you use a profile other than sRGB, the service provider understands how to interpret it, that it is appropriate to their equipment, and that the profile is embedded in the image.
For the vast majority of folks, it's best to stick with sRGB. Anything else implies a color-managed workflow. Color management is a very complex area, and if you don't really need to do it, don't.
BTW, if you shoot RAW, you ALWAYS have the best color information your cam is capable of, and if you retain your RAW files, you can always do a RAW conversion to any desired color space at any time.
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