Both and neither. In your nerdy world, nobody holds any real upper hand. Your life isn't really affected by the insults.
How about this though: You live in a world populated mostly by gay men and women. That seems to the the norm (we'll ignore the reproduction issues here). You yourself are heterosexual and would love to be accepted as such except that you can tell from your mates' "friendly banter" that to be straight, even though they all joke about it, is somehow a bit unacceptable. For a start, you keep hearing the phrase "That's so straight!"
So you keep quiet, a bit ashamed of being this deviant. This straight guy. You have to live you life in the shadows because it's just too much hassle to reveal your true sexuality.
But im gay mate.