In my headcanon, Thorin and Bilbo had drunk sex while stumbling around in the Mirkwood.
:)))) I like this. So, this makes me want to discuss the “did Thorin and Bilbo ever actually have sex?” thing.
Admittedly I go back and forth on this ALL the time, as people probably have noticed. On the one hand, I’m pretty convinced they never had sex? On the other hand, the color swap in/after Laketown subtextually signals that something changed. (on my life i cannot find the really good post about this that went around, but here’s something anyway). So it may be that they got together physically and/or romantically in Laketown, OR wearing one another’s colors might only be signaling how important Bilbo vouching for Thorin is - which really shouldn’t be that important, damn, unless this is in fact a love story (spoiler: it is).
My headcanon on when the sex started if it happened at all? Honestly, I think it would go all the way back to AUJ and Rivendell. Mutual attraction + wine + opportunity (could) = bagginshield sex, but, I think both parties would have assumed the other was only in it for the physical aspect, and that no romantic feelings would have been acknowledged. This helps explain Thorin’s risking his life to save Bilbo on the cliffs, and his harsh words (overreaction much, Thorin?). Then we get Bilbo’s pledge to give up his own home for a while to help Thorin reclaim his, Bilbo risking his life to save Thorin, heart-eyes, hugs, yada-yada. Which of course would lead to more sex at Beorn’s, in Mirkwood lol, in Laketown, etc.
Why do I think no romantic feelings were discussed? Because botfa would have been a very different movie if these two had ever talked about how much they liked one another. I just don’t think this conversation ever took place - their interactions in botfa are pretty solid proof of this for me. Which is why, most of the time anyway, I headcanon that there was also no sex, because Thorin Oakenshield runs full-throttle on all roads and I don’t think he could bang Bilbo without revealing his marshmallow self??
Also, I think the most accurate headcanon for Bilbo’s and Thorin’s sexuality is that they are both asexual or grey ace, or demisexual, tbh. That’s just my opinion but it rings the truest for me.