Originally Posted by RePete
This is basically what I was thinking only opposite sides. I could be wrong and probably am but I would put the hinge on top. Beauty of this idea is you can always flip it to find out which is better. I had been considering this idea as it is super cheap. A cam lock like what is on a window may be a better option. Not sure how a barrel bolt is going to stop the wood from separating. I do like your thinking though.
Problem is the forces change from loaded to unloaded hammock. Not that your thought won't work though. A good twirl around the hardware store is called for.
I don't think I've ever seen a window cam lock that would fit on a 2x2 though. Maybe a hasp of some kind?