Knots derate any line. It doesn't derate amsteel any worse than any other line. Amsteel is not covered, so chafe can be a problem for long term usage when compared to a covered line. Chafe is also magnified by the thin diameter. Amsteel is slippery, so it does not hold knots as well as other lines. Knotting it is OK, not preferred, but OK. I don't hesitate to knot it when I need to. I will usually add a safety knot, a figure 8 or something to reduce the liklihood of failue if it were to slip if the loading is critical.
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