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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I’m thinking of starting a go fund me page for tubebuffer. Maybe with some help,we can improve his quality of life. No one should have to suffer like that.

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Where you stand on this, depends upon where you sit..

Seems like a term made up for insulting others. I bet there are many so-called mid-Fi systems that some enjoy more than those who buy to impress their friends. 
 

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SPEAKERS, that’s where real differences can truly be heard, and there, progressive improvements are low, mid, high, unbelievable! The price of speakers is proportional: low, mid, high, unbelievable. Of course there is marketing muddle, but the functional and sound differences are readily understood and heard.

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Next: match the correct speakers to the listening environment. BIG differences

Next, feed what content into those speakers? BIG differences

Next: what equipment ’chain’ feeds the content. Each ’thing’ may or may not make a difference, the degree of difference relative to the speakers, and listening space is very slight if real, the power of expectation bias is HUGE and must be guarded against.

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Now, analog chain: happy days to you, enjoy the chase. avoiding problems a big part of success

Now, digital chain: happy days to you, enjoy the chase, not for me.