>>1150189If paracord is all you have, then sure you can rig up a hammock and sleep in it with paracord as a suspension.
Is it going to support your weight? Maybe.
Is it going to sag and stretch in the night, requiring readjustments? Yes.
Does it hurt the bark of the tree? Yes.
Straps are just better, they are so much easier to set up. I've been using a daisy chain setup for a few years now and it's convenient as hell, they're only about $20 as well. I'm looking to try out some descender rings or a woopie sling setup sometime next year, but for now my big focus is getting an underquilt. Seems to be next level cozy, and I always have problems staying on my pad at night.