Back in Boy Scouts, I learned a similar knot called the "Highwayman's Hitch." (Lots of examples on YouTube.) A bit easier and faster to tie than this one, but maybe not quite as secure. It's generally agreed to be an urban legend now, but the association with "highwayman" (an old synonym for robbers) supposedly came from their using it to securely tie their horses to a post or rail and still be able to make a quick getaway. There's a good article on Wikipedia (where else).