Have you ever cut your hair by chopping off your ponytail?

A while ago I started a discussion about how I cut my own hair, and I found that I certainly wasn't alone with this way of saving money! However, I usually do it in quite a calculated way, hacking each bit away carefully until it looks about right, lol! And although I enjoy doing it and find it surprisingly relaxing, these days it just takes a bit too much time. So I was wondering... Can I not just do the whole thing in one quick snip???? Has anyone done this? How did it look? Was it straight(ish)? Do I need a particular type of scissors? I should imagine big, sharp scissors are best - or can I just use anything?! Any tips?