I have read that it only takes a couple of days for the cord to fall off intirely of it's own accord.
Less time than a little cord stump I believe.
It seems for many lotus birthers that it is spiritual, and in some cases they treat the placenta like another baby!
In other cases they kind of "worship" it and treat it as thanks for getting nourishment to their babes and therefore allowing them to be, and they allow "nature" to take its course.
(though i think in nature most animals chew the cord off?...so thatis kind of weird).
I thought about it briefly after reading a lotus birther's website & personal experience (can't find it now), but dh asked me not to as he wasn't comfortable with the idea od carrying a sack of meat around with the baby and said he would be too icked out to snuggle the baby or what have you (though seeing him upon the birth of his first baby, i doubt it!!
I just went for no cord clamping until after the placenta was delivered. The hospital midwives called it a "mini-lotus birth type deal" amongst themselves