I managed to do the transformation, but it involves one extra step that's missing in the instructions. The "first loop", before collapsing, must also be taken around end B to form the Eskimo bowline. I think the operation is a bit far-fetched, and it does not show any real relationship between those knots.
Well, this has been an interesting post - I have learnt three things;
I have learnt (yet again) to trust my convictions - I have struggled for days to translate the Gleipnir to the Eskimo bwl., yet no matter what variant of interpretation of the instructions I took I only achieved a Reef, a fancy rethreaded Eskimo bwl. or a Non-Knot. Then thanks to Inkanyenzi, I dread that it is necessary to partially undo the knot by its 'B' end before the translation is possible. Undoing the 'B' end one step is not simply a matter of collapsing the first loop as claimed, so I feel Dan's protestations and my own failure to be somewhat vindicated.
Second, I have learnt (yet again) that the value of a knot is hugely influenced by the means of creating it. If the method is clumsy and unmemorable, then the knot is virtually useless, while a less ideal knot that is easy to tie will posses greater utility. I have always felt that the Eskimo is essentially valueless for this reason.
But third, and by far the most important, I have discovered an easy way of tying a very useful knot. The knot - yes, it is the Eskimo bwl. The method - NO it is not the collapsed Gleipnir !!
Take the end of the rope and pass it around or through whatever you are going to make the loop to, and take the end back to the rope where you want to make the Eskimo. In the rope tie a simple slipped overhand and poke the end through the slipped loop. Pull the rope to collapse the slip and to pull the end into a bight, pulling it back into the OH. As the bight forms, the OH collapses to form the bwl. collar. It is a stunningly simple method of making the Eskimo bwl. exactly where you want it.
I think I would have to say that this method makes the Eskimo the easiest bwl. to tie.
As the slipped OH is possibly the simplest of knots to make (and therefore possibly amongst the oldest), I think it is reasonable to surmise that the Eskimo was likely to have been the very first bwl. to be discovered, and that the other variants of the basic structure, predominantly the Bowline and the Sheetbend, evolved from it - Not from the Gleipnir as xarax proposed.
I think this method of creating a loop even beats the Constrictor / Myrtle method for speed, and simplicity, and now I can tie the knot so easily, I can even see the utility of the loop legs leaving at 90 degrees instead of parallel. A part of my barn roof has just been blown off in a storm, and I had to lash a tarp over the damage. I fed a rope through two adjacent tarp eyes, brought the end back to where I would have made a myrtle, folded a slipped OH, popped in the end and pulled - the resultant Eskimo sat naturally with the two loop legs leaving at a wide angle to the tarp eyes, and the collar left the knot at right angles to the tie down point - the perfect knot for the job and tied so easily even with a high wind flogging the tarp and trying to pull the rope out of my hands.
Thank you xarax for stimulating the thought provoking challenge - I can see that if we can convince you to stay around, we can look forward to having a lot of fun with you.
Derek