This is probably the best article I have read about hipsters: Hipster: The Dead End of Western Civilization. It does a great job of not only defining hipsters, but also addressing a number of the problems/inconsistencies with the "movement." Don't get me wrong, I don't hate hipsters. I knew, or was at least acquainted with, a number of hipsters back in Birmingham and they threw great parties and I enjoy their music. However, it is not something that has really appealed to me as a whole, and I think this article makes some of those reasons quite clear.
For further reading about hipsters, The Hipster Handbook really is a great read and does a great job of identifying the intricacies of the hipster sub-types in poignant satire.