Comment by p1necone

78 million is how many pixels would be in 256 different pictures with 307200 pixels each. You're only counting each pixel once for each possible value, but you actually need to count each possible value on each pixel once per possible combinations of all of the other pixels.

The number of possible pictures is indeed 256^307200, which is an unfathomably larger number than 78 million. (256 possible values for the first pixel * 256 possible values for the second pixel * 256 possi...).