HiFi vs MidFi


I’m a relative noob to the audiophile scene, having just invested in an integrated amp and upscale (for me) speakers.  From time to time, I hear the term “MidFi” for some components.  Is there an objective or just largely accepted definition for this term?  I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.  
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Perhaps think of this analogy.    

Consider MidFi like watching Avatar on DVD and HiFi like watching it on BluRay.    

Until you know the difference, you are loving the experience. But once the Pandora's box of HiFi is opened, there is no going back.    

So HIFI poisoned Snow White? I’m so confused
In a way "sometimes" yes....

when Hi-FI is associated with hype and money in place of the necessary acoustic solutions yes....

Thanks for your enlightened confusion....

High-Fi or Hi-End + acoustic = audio experience

The best high-end in the world is not complete without acoustic, without a room designed for it...
Maybe you didn't see my earlier post.  Defiantly not about expense. 

http://www.6moons.com/audioreviews2/caintuck/2.html

Prices have gone up since this post but they still exist.


I believe that everything matters even the blue birds
HiFi is  piece of equipment that you cherish, that made an exponential improvement in your system and that is part of your system for years and years.  MidFi didn't make much difference and finds its way into Audiogon or as a trade in quickly.