In reply to noxious: I think that over the years there's been a tendency to reduce the number of knots in use, on the basis of keeping things simple. However that can lead to the mentality that if something's not on the "approved" list it must be dangerous. Certainly this knot used to be used in climbing, but it seems to have dropped out of fashion, probably because slings have become more widely used.
A hitch would generally be preferred to a noose when attaching a rope to a pole or a tree, because it reduces friction and wear. Just because a knot can be released under load doesn't make it unsafe - the two half-hitches are effectively a clove-hitch tied around the standing rope, and we normally think of that as a secure knot.
I can't think of a reason not to use it.