They are best known for being super exclusive and elitist and looking down on those who follow the trends dictated by the mainstream.
They also seem to miss the entire irony of how they buy thrift store" clothing from department stores. Just feeding into the "mainstream" culture of consumerism that they claim to be countering.
But getting to the heart of hipster culture, it should be understood that true hipsters care a lot but they don't care. I.E. it’s all about the image. They spend obscene amounts of time calculating their outfits, the bands they like, and the hobbies that they're into. However, they have to pretend that all of it bores them, and that it comes naturally... because only the coolest hipsters don't try, yet still manage to be subversive and hip.
They also tend to be seen in obscure Indie concerts, in their own bands, being DJ's, owning or working at "subversive" yet lucrative businesses like t-shirt printing shops, chain smoking, shopping at Urban Outfitters or H and M, attending liberal arts colleges, or playing competitive dodge ball (because it’s so lame its cool)
if its "cool" its lame, and if its dorky its amazing!
Therefore the hipest things ever have to be Mullets, Knee socks, and Barney the Dinosaur!