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I think you are really overthinking it.

Bicycle can be very simple. You need just two wheels (can be made of wood with some steel support, just like a wagon wheels) and some frame to connect these (again can be made from wood). You do not need any bearings or even a belt - you can connect pedals directly to the front wheel (as was done in early design).

All of this can be made with simple carpenter and smith tools.

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