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You'd have trouble with a bike speedo. Those things need the magnet mounted super-close to the pickup sensor on the fork. That works ok for a bike, but cars' suspensions take a much harder beating even on the simplest drive, that you'll surely lose or break it. You never ride a bike that hard because you'd drive the seatpost up your own ass.
That's my guess. I've never tried it. (the speedo, nor the seatpost)
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