As for how a thermosyphon works, I believe it works better the higher your tank is above the coil, as there is more weight of water in the lines to and from the coil, which increases the differential of weight and thus pumping pressure.
An exit for coldest water is at the bottom of your tank, feeding to the loop... and a return from the hot end of the coil at the top of your tank.
(I cannot remember if having cool water travel down the coil from the top, or up the coil from the bottom is more efficient, but one is, so look it up if you try this)
As water heats in the coil, it expands and becomes lighter by volume than the colder water coming from the tank. This weight differential die to thermal expansion causes the
hot water to “float” and rise up it’s tube and enter at the top of the storage tank, while cooler water “falls” out the bottom.
A thermosyphon also depends on larger diameter pipe to maintain sufficient flow, especially with little elevation difference between the height of the tank and the coil (tank can never be below the coil, and runs
should never change direction past horizontal... always some inclination.
Google will bring up tons of discussion of
solar thermosiphon systems, and the same rules apply, except that you are dealing with a MUCH more variable and dense heat source. Especially the closer to the riser one goes.
Consider an open tank, buffered heat exchanger like the one in Donkey’s
video above. no boom, no scalding jets of steam... and it can be scaled up or down, to heat just a cup of coffee (on a very small rocket) or be able to heat a whole house...
You could do a sheet metal or masonry bell with insulation around the sides and two 16 quart stainless cooking pots (Walmart had them for $12 each in my neck of the woods a little while back)
A 1/2” thermosyphon coil in each one, hooked in parallel tees at each end to 3/4” line connections to your hot water tank and you could safely heat your household hot water tank with
wood. Cold water out from the drain valve, and hot water in at a tee on the hot water out line just above the tank.