The original hip belt have been around well over 100 years. You can lift an amazing amount of weight using that style. The old Jefferson two handed lift (without a hip belt) is probably the nearest exercise to a belt lift with just using a over/under hand grip. The theory being that much more weight can be moved when the weight to be lifted is below the waist/lower back axis rather than above that center point. Like in martial arts, the attention being just below the bellybutton as the point of power. The squat being a good example of the weight held above & higher on the shoulders/traps. The higher an object (mass) is raised from ground zero ( the floor/ground, etc), or so the theory goes, the more resistence comes into play from gravity. One of the reasons , though I respect them both, that I admire Olympic lifters much more than PL'ers. This is not a slam on all my PL'ing Bud's (I've done PL'ing myself) but my personal view. When a man can lift 300, 400, 500lbs plus overhead, to me that is the ultimate of lifting.
A lot of men (past & present) who do hip belt lifting use a shorter bar rather than a regular Olympic bar like shown in the photo. Gain better leverage and point of balance. Some will build a small platform, allowing the chain/weight to to hang down in the middle through an open space. This allows a deeper squat and range of motion. Unlike the regular DL, the focus of attention is on the squating/pushing action of the hips & legs mainly rather a concern with the grip, keeping the back straight, avoiding the knees, etc.
As suggested above, a huge amount of weight can be used in hip squating so be a little aware in the beginning so the muscles & joints get adjusted to this way of training. It can be very hard work but worth the effort. Can also apply the higher rep, deep breathing version for development and stamina. Good Luck.
