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.  
128x128bigtex22
I feel like I got dragged to @mozartfan's off-off-Broadway one man show. There are 4 people in the audience. Two are asleep, one is scrolling on his phone. His partner is the fourth, daydreaming of the scene in Inglorious Bastards where the theater burns.

Cheers,
Spencer
Why are you posting this on someone else's thread? It is off topic and you have enough of your own threads showing how bad this set up sounds. Leave this on one of your own threads.