Board Thread:General Discussion/@comment-6406244-20130210064007/@comment-7700568-20130408160237

Do not confuse Hard Mode with Hardcore Mode. Hard Mode is enabled when you defeat the Wall Of Flesh, in any world, doesn't matter the difficulty you chose for your character.

Hardcore Mode is the difficulty chosen when you created you character.

In that case, if you chose the Easy Mode when you created you character, in which you lose only money when dies, if you enable Hard Mode you wll still lose only money when you die.