Thanks to the mighty Jorb, I can now tell everyone what they need to know about taming. Taming is a process that is supposed to happen over a course of a few days. Now the cow does not actually aggro you. Once the cow takes a fighting stance(starts wobbling looking like it is dizzy), is when YOU actually aggro it! As long as you have a cow tied to the hitching post, it will not despawn. I have tested if you can use 1 rope for 2 cows, and it does not work. So always keep 1 rope in your inventory for each cow you are trying to tame. I am still trying to figure out if archery works, so I will get back to you, tell me if you have any questions. Here is a short video of what it looks like when it is ready to fight. https://gyazo.com/e2d99b9f72ea47823eafba268dfce64f
*EDIT* It will take the fighting stance every few hours.