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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Some good comments esp C Miller. I don’t always agree with his voicing but his hard core reaching for the top isn’t disingenuous. Everyone tends to recommend their stuff, until they move on!

“Mid” means in the middle. Not low, not high

I once saw some graffiti that said “Let go of my big toe, I want to dance my life away.” That’s the quest here. Too bad about all the elbow jabs.

LoFi - hear everything gets nothing 
MiFi - hear everything gets only the highs
HiFi - hear everything gets everything 
Mid-Fi: A largely meaningless, murky term. It means “less than hi-fi,” but sometimes that's again indicative of personal preference. It's one thing to use this to describe overt sound quality flaws…but more often it's used as a personal insult, especially on forums.  (I did not write this definition, but I agree with it)
LoFi - hear everything gets nothing
MiFi - hear everything gets only the highs
HiFi - hear everything gets everything
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Acoustic science treatment and control: get anything in lo-mid-or Hi at the square power....Even get something from nothing...Get some bass not only highs...

Get more than everything because S.Q. is not highs or bass added together ...It is imaging/soundstage/timbre spectrum field done right/listener envelopmenmt/ relative source width.... 

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HIFI is defiantly different than MidFi.  I lived with MidFi for years good but never great.  Once you lived with HIFI you know the difference.  I relate it to once you've see a photo taken with a superior lens the clarity and depth and colors are so much improved you can then on instantly tell an inferior photo when previously you hadn't noticed the flaws.   The same goes with HIFI once you experience it you'll know the difference.