hash the event ID, take only the first 8 bytes the chances of collision over the first 8 bytes directly is higher on the raw hash of the event (consider PoW notes) than if it's the first 8 bytes of the hash of the hash. this is how i would implement it anyway. fwiw, nobody listens to me, and even when i'm proven right nobody wants to remember i said it.

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so you hash the event id to get a new hash, then you take the first 8 bytes and convert that to words... now how do you find the original event? The words can be converted back to bytes, but the bytes don't represent the original event id so you can't search for it.