Shorting has a place and you've offered a good basic description. In crypto however it's such a risky strategy. So many people have racked up huge negative positions by letting a short run. In a market that is overall so bullish in the long run it's best to steer clear of shorting unless you're very risk-loving and have a great understanding of shorting and how crypto markets tend to operate.
Well yes, people have either had large gains or large losses -- that's what happens in massive times of boom and then bust in regard to stock.
But OP I do like the description, I had always spoken about shorting but never actually got involved in it at all. I'll have to bookmark this so I remember the basics about it. While I'm here though, does anyone know any other sites (besides Kraken and Bittrex) which offer shorting to US traders?