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Some group of students actually built a bike similar to this and posted it on Reddit in 2009 or so.

What I never understand is how people imagine the drive on the rear wheel. You'd need an impossible gearbox to spin the gear that interfaces with the rim, and even that gear would need to spin like 10 times for every revolution of the wheel.

To me, that kills the fantasy so thoroughly that it isn't even fun to look at a picture of the device and imagine it in perfect world scenarios.

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