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By the way, I've done a two step hole where I go in with a bit closer to the base size, then another that's larger to accommodate the knot. This gives the base a little better socket to sit in. Not...

Yes the knot will actually be a larger diameter just above the base. While it's flexible, if you did a line to line fit for the base, you couldn't shove the knot in any deeper cause you couldn't...