You sleep in it during the day and wake up at sunset. Preferably hanged between two structures, such as trees. Useful for those who want to hunt monsters at night. Idea stolen from here.

Can't see how that'd work on MP servers..

If everyone sleeps in a hammock it skips, otherwise it doesn't much like beds?

Beds are already fairly portable. The fact that it moves your spawn point is just incentive to be careful with your life and IMHO its a needed downside.

Unless you're using a sleeping bag provided by... this mod. :P

Closing this as it's months old. If it needs revisiting we can open a new bug.

Beds

Um, this is a suggestion for an inverted bed(sleep in day, wake up at night).