Rope anchors: the Alex Honnold anchor
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Did you realize halfway up the pitch that you left your long anchor sling with your partner down below? Whoops! Better have a Plan B. This is an easy one, use the rope.
Did Alex invent this anchor style? No, climbers have been using this for decades. But, Alex said in an interview that this is his favorite style of anchor for roped multipitch climbing, so that's what I'm calling it. =^)
This anchor is a fine choice when you have a pair of decent bolts.
Note that the belayer is not on the equalized portion of the anchor. They’re clipped directly to one bolt, and indirectly attached to both. The belayer has redundancy, but not equalization.
With properly placed bolts that can each hold well over 20 kN, this shouldn’t be a problem.
Benefits of building an anchor with the rope:
Typically uses the minimal amount of gear. No need for extra slings, cords, or untying slings with knots when you’re done.
Uses the strong and stretchy rope, which you always have. Strong and stretchy are good things to have in an anchor! (Even if you prefer making anchors with a sling or cord, you might not always have those, and it's good to have some alternatives.)
Downsides to building an anchor with the rope:
It works best if you’re swinging leads on a multipitch climb. If one person is doing all the leading (aka block leading), or if this is the last anchor at the top of a climb and you’re transitioning to rappel, it may be better to craft an anchor from a sling or cordelette so you have both ends of the rope to work with. (Even if you plan on swinging leads, your partner might decide they don't want to take their turn and you might have to go again, so keep that in mind.)
Rope anchors can make many self-rescue techniques more challenging, because the end of the rope is a component of the anchor. Yes the belayer can can simply untie and they're out of the system, but then they may have a harder time using the rope for anything useful.
If the next (or previous) pitch is a real rope stretcher and you might need every bit of it, this may not be the best choice. (Rare, but it can happen.)
When the leader pulls up the rope on the second, the rope pull comes tight first onto the anchor and not directly onto the second climber. This can create a few meters of potentially unwanted slack when the second breaks down the anchor. The second can clip to one bolt or piece of solid gear with a tether before they remove the anchor, as a possible solution.
The Alex Honnold anchor, step-by-step . . .
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