What rope would be most helpful/versatile in a survival situation?
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Most survival experts recommend parachute cord. From Wikipedia:
I'd argue that it's more than just a survival rope -- it's useful in many regular camp tasks like hanging a bear bag or putting up a clothes line.
Unfortunately, the term "parachute cord" has been slapped on cheaper knock-offs that aren't up to the military's original specifications, so it's not as strong. If you're going to purchase some, make sure you select a type that's strong enough for your intended uses.
As Hartley Brody suggests, I would carry a few metres of para-cord, as this is a very tough and versatile rope which can be used for a lot of things in survival situations.
However, if you are heading up onto a hill, I would also carry a 30m or 60m length of abseiling or climbing rope (and a belay device), just in case you ever need to make an emergency descent.