Well on Mythbusters they made a boat out of duct tape, so I guess its possible but I wouldn't try it. The boat floated for a good amount of time, but it finally gave way and sank. Probably get the same results as rim tape.
I had a flat and while changing the tube the lever "grabbed" a loose part of the existing rim tape and pulled it up as I was removing the tire. Once that happens it will not re-stick securley.
I always carry duct tape in my on bike tool kit. I carry enough to go around my rear tire, fully inflated one time. I cut a piece long enough to attach to the existing rim tape that was not pulled loose by the tire level, finished replacing the tube and went on my way.
I actually forgot I had used the duct tape until I was discussing it with someone on an online forum about a month later. When I remembered I took the wheel off the bike, removed the tire and tube, peeled off the rim tape and duct tape, cleaned the residue off of the rim and took it to the bike shop to be retaped. It took WD40 and then degreaser to clean off the adhesive residue left by the duct tape.
Speaking of duct tape, I wonder if you could build an entire bike out of the stuff, except maybe the wheels and chain. The stuff is surprisingly strong, and would bet a duct tape frame would hold up for a while.
When a person says wrapping tape their not talking about the clear plastic box tape, their talking about strapping tape. This tape has fibers running through it that makes virtually impossible to tear, thus it has the strength to prevent the tube from going through the tape and flatting. Strapping tape works the best and some argue as good as regular rim tape, and strapping tape is amoung the lowest weighing things you can do to cover the holes.
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