Ashdraked is early Bitcoin community slang for losing most or all of one's holdings by betting against the price of Bitcoin, typically through short selling or a leveraged short. The word is usually traced to a user on the Bitcointalk forum known as Ashdrake, whose losses on a bet that the price would fall became a running joke among early holders. It is used as a warning that shorting an asset with sharp upward swings can end in a margin call or forced liquidation. The term belongs to the same informal vocabulary as "HODL" and "rekt", and it is now rare outside long-time Bitcoin circles. It describes an outcome, not a trading method. Also see Long and Short Positions.