Hipsters as defined by the Urban Dictionary:
Hipters such as New York, Chicago, and San Francisco respectively. Although  "hipsterism" is really a state of mind,it is also often intertwined  with distinct fashion sensibilities. Hipsters reject the  culturally-ignorant attitudes of mainstream consumers, and are often be  seen wearing vintage and thrift store inspired fashions, tight-fitting  jeans, old-school sneakers, and sometimes thick rimmed glasses. Both  hipster men and women sport similar androgynous hair styles that include  combinations of messy shag cuts and asymmetric side-swept bangs. Such  styles are often associated with the work of creative stylists at urban  salons, and are usually too "edgy" for the culturally-sheltered  mainstream consumer. The "effortless cool" urban bohemian look of a  hipster is exemplified in Urban Outfitters and American Apparel ads  which cater towards the hipster demographic. Despite misconceptions  based on their aesthetic tastes, hipsters tend to be well educated and  often have liberal arts degrees, or degrees in maths and sciences, which  also require certain creative analytical thinking abilities.  Consequently many hipsters tend to have jobs in the music, art, and  fashion industries. It is a myth that most hipsters are unemployed and  live off of their parent's trust funds. Hipsters shun mainstream  societal conventions that apply to dating preferences and traditional  "rules" of physical attraction. It is part of the hipster central dogma  not to be influenced by mainsream advertising and media, which tends to  only promote ethnocentric ideals of beauty. The concepts of androgyny  and feminism have influenced hipster culture, where hipster men are  often as thin as the women they date. The muscular and athletic  all-American male ideal is not seen as attractive by confident and  culturally-empowered hipster women who instead view them as symbols of  male oppression, sexism, and misogyny. Likewise, culturally-vapid  sorority-type girls with fake blond hair, overly tanned skin, and  "Britney Spears tube-tops" are not seen as attractive by cultured  hipster males who instead see them as symbols of female insecurity, low  self-esteem, and lack of cultural intelligence and independent thinking.  Hipsters are also very racially open-minded, and the greatest number of  interracial couples in any urban environment are typically found within  the hipster subculture. Although hipsters are technically conformists  within their own subculture, in comparison to the much larger mainstream  mass, they are pioneers and leaders of the latest cultural trends and  ideals. For example, the surge of jeans made to look old and worn (i.e.  "distressed"), that have become prevalent at stores such as The Gap,  American Eagle, Abercrombie and Fitch, and Hollister, were originally  paraded by hipsters who shopped in thrift stores years before such  clothing items were mass produced and sold to the mainstream consumer.  The true irony here is that many of the detractors of hipster culture  are in fact unknowingly following a path that hipsters have carved out  years before them. This phenomena also applies to music as well, as many  bands have become successful and known to mainstream audiences only  because hipsters first found and listened to them as early-adopters of  new culture. Once certain concepts of fashion and music have reached  mainstream audiences, hipsters move on to something new and improved.  Because of the rise of various online photo-blog and social networking  sites, insights into urban hipster culture is reaching sheltered  suburban audiences at an exponential rate. Cultural "norms" have been  deconstructed by hipster culture as a whole. Hipsterism is often  dismissed as just an image thing by some, but the culture as a whole is  effecting changes in society, leading to feelings of insecurity and  resentment in people who are no longer a part of the cultural ruling  class. For example, a lot of anti-hipster sentiment evidently comes from  culturally-clueless suburban frat boy types who feel that the more  sensitive, intelligent, and culturally aware hipster ideal threatens  their insecure sense of masculinity. Anti-hipster sentiment often comes  from people who simply can't keep up with social change and are envious  of those who can.

Furthermore:
The term "hipster" is cross-applied from the  1930s Beatniks. The modern hipster is a composite of individuals with a  certain bohemian life situation and lifestyle. He or she rejects  "mainstream" culture and embraces and contributes to independent  culture, and prides him/herself on this. The modern hipster image has  been proliferated through the internet, publications such as Vice  Magazine, and sightings in the music, fashion, and art world. The image  of the hipster is constantly changing, but several aspects have stayed  constant over time. Lives in a young, artsy neighborhood of a major city.Usually has some degree of monetary  conformability, although sometimes only because of their parents, due to  cost of living in these areas. Works (or wants to work) in music, art,  or fashion. Has "elitist" music taste and listens to nu-rave (i.e. The  Klaxons, Cut Copy, Hercules and Love Affair), minimalist techno,  independent rap (i.e. Spank Rock, Talib Kweli, Aesop Rock), nerdcore  (i.e. YT Cracker, MC Lars, MC Chris), Elephant 6 (i.e. of Montreal,  Neutral Milk Hotel, Apples in Stereo), garage rock, and punk rock in  addition to all manners of independent rock. Favorite band is very  likely Bright Eyes, The Arcade Fire, The Arctic Monkeys, The Libertines,  The Strokes, or something of that nature. Also watches independent and  foreign films and reads independent books, magazines, and periodicals.  Is a fan of modern art and may also be an amateur artist. Dresses in a  progressive but retro fashion that is often changing. Popular items  include leggings, mini-skirts, leg warmers, '60s dresses, headbands,  chunky jewelry, and large shirts and sweaters for girls and skinny suits  and ties, tight jeans and cords, t-shirts with ironic sayings and  images, cardigans, plaid and buffalo check shirts, colorful hoodies, and  tight windbreakers for guys. Both genders frequently wear dirty Vans  and Converses, flamboyant Nikes, large plastic frame glasses, and neon  wayfarer sunglasses and are sometimes pierced and tattooed. Shops at  Urban Outfitters, American Apparel, and thrift stores. Likes to hang out  at fashionable coffee shops, indie rock shows, and hipster dance clubs.  Does food shopping at stores like Whole Foods and is often vegan or  vegetarian. Eats chic ethnic food and prefers organic and Fair Trade  fruits and vegetables. Favorite beer is Pabst Blue Ribbon. Takes up many  causes and is often socially minded. Enjoys irony in all facets of  life, from fashion (wears mismatching outfits and unpopular vintage  clothing often emblazoned with ironic sayings) to sports (plays in  dodgeball tournaments at McCarren Park Pool). May ride a fixed-gear  bicycle or a hybrid car. Networks through Myspace, Facebook, and/or  Twitter. Usually rejects the term "hipster" and argues if called one.
Hipster: Hey, don't call me that!

 And then:
\hip-stur\n. One who possesses tastes, social  attitudes, and opinions deemed cool by the cool. (Note: it is no longer  recommended that one use the term "cool"; a Hipster would instead say  "deck.") The Hipster walks among the masses in daily life but is not a  part of them and shuns or reduces to kitsch anything held dear by the  mainstream. A Hipster ideally possesses no more than 2% body fat. 
-The Hipster Handbook,   Robert Lanham
Typically  a Hipster can be identified by vintage or thrift-store budget clothing, a  taste for obscure or underground music, a penchant for irony and an  elitist attitude.
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