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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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tsushima1
1,165 posts
 
millercarbon being a hands on subject expert in the field of Mid-Fi .
ebm
9,311 posts
 
These terms mean nothing.HELLO!!
ryder
1,699 posts
 
I don't know. Mid-fi sounds like cheap hifi.
big_greg
6,673 posts
 
I like the way that Mike put it, that resonates most with me.  

While it's true that sometimes expensive pieces sound like pieces of doo-doo, it's a fallacy to think that there's not much difference between your system and that of someone that has invested an order of magnitude in their system.  Not just money, but research, time, and effort. 

If your mind and ears aren't open to that reality, then you have a "mid-fi" outlook.  
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