As I’m relatively new to climbing on rock, I can’t speak with most of you on shock absorption. I have however sailed all my life, inland waters and the ocean, and can say that the reason the bowline is favoured, is that it is easy to tie one-handed and undo. I would not use the bowline as a tie-in when climbing, even though I have used it many times to climb up masts. The F8 will tighten considerably under load, and with a simple back-thread into the bottom centre of the 8 will keep it from ever coming loose. This way you only have the F8 close to your body and no additional fisherman’s knot on top of it. This way I can clip very low as well, and the loose end is out of the way.
The bowline goes through a much tighter 360degr. Loop and thus will reduce it’s strength, if that’s what you’re worried about. The load on the end that goes through the loop, around the rope (long end) and back through, will only ever get a fraction of the tension the other end (360degr loop) gets. The friction through the harness will insure this as well.
I can tie a bowline blindfolded with one arm behind my back, and know it is tied right even under alcoholic conditions, but I will use the F8 every time for climbing, because in order for the bowline to stay correct and not come undone, it needs permanent tension on it. This is not the case when you climb, unless you rappel only. No safety knot can keep the tension on the loop to keep thing in shape.
This is only my opinion, but if it safes even one person from getting hurt, I’m a happy man!
Good luck out there!
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