Though I wonder just how practical it really is. I don't know about everyone else but I like to keep my ropes and cords readily available. Weaving paracord into a big braid that takes a while to do and undo seems to defeat the purpose somehow.
Space consideration is also a bit moot. I can compress 10' of paracord into a very small bundle easily. Fits well on a small carabiner attached to my backpack when hiking outdoors, can be deployed instantly. For urban EDC I prefer to keep the paracord inside the pack. Low profile and takes very little room. No more than a fat 10" braid I guess.
What if you don't have access to, or lose, your pack? Do you keep that pack within arm's reach everywhere you go, every time? You very well may be able to do this, but most of us can't.
If there's a fire alarm or earthquake while you're in a meeting at the office or visiting the men's room, you probably won't be able to go retrieve your pack before evacuating the building (of course you must tailor your profile to fit likely problems,
like Schwert demonstrates here). Now what do you have on hand, on your person to help deal with the situation? A boater who carries his critical gear in a boat mounted bag & nothing on his person is in trouble if he gets dumped from the boat, washed downstream and drags himself onto the bank. It's 38 degF and windy. Wouldn't it be great to have a firestarter & a
AMK HeatSheet in your pocket?
The paracord bracelet/anklet idea fits into the concept of
1st/2nd/3rd line gear. The bracelet is not meant to be your primary source of cord. I too keep easily available cord in my pack, and it is what I go to if I need cord. But if I can't access the pack, I have the bare minimum in my 1st line gear profile. I keep a few feet of duct tape wrapped on a plastic card in my wallet, along with more in my pack. If I have my pack that's where I go to get tape, but the little bit in my wallet is there if I can't get to the pack.
I'm not saying that everyone here should wear a paracord bracelet and keep duct tape in their wallet. I'm just saying that if you plan to always be able to dig through a well-stocked backpack for critical items, you might find yourself disappointed one day.