Lack of a seat post Is not a new idea. This, a certain fellow cycle chat members bike from 5 years ago.
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Or the J.Laverack Curv.3 concept bike
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As an engineer specialising in strength of materials, all I can say is that design goes against everything I was taught about creating a strong, stable structure.
There is a damn good reason why a triangle is one of the best ways of distributing point loads (in this case, the cyclist on the saddle) that there is. It's foundation / year 1 of an accredited degree course material. That will eventually fail where the chain stays meet the seat stays. And have all the rigidity of a blancmange.
So it's a very definite NO from me.
A bike that weighs 3 kg more than my 20 year old bike, looks ugly, has various impracticalities, and may well fall to bits eventually... Er, no thanks!
This is Bike Radar's bike of the week. It's a crowd funded project in CF and lacks a seat tube. Anyone tempted?
https://www.bikeradar.com/features/bike-of-the-week/superstrata-classic/
10/10 will sink without trace.