You have to see this thing in action, it beggars belief:
Thanks to reader Ivan Lipkov, we have learned that the bicycle was invented by Russian bicycle maker Evgeniy Pinigin.
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Yes, this is it. Bravo for finding this so quick!
Bistable hinge. He's using his body force to flip the hinge.
OMG. I know this guy. I used to repair my XC frame with him. His name is Evgeniy Pinigin. He is a very famous bike frames manufacturer localy in Saint Petersburg, Russia. He used to make his own frames for trial and XC bikes.
It looks like the bike has a linkage toggle system akin to this:
with shocks to dampen the toggle action. The sliding shiny tubes on the rear fork may contain the shocks. The spring that actually does the toggle movement is likely tuned to the rider's weight. When he does that little jump motion it bumps the toggle into the other stable position. The front fork doesn't lengthen or shorten, it just changes angle.
Need my road bike to transform to a recumbent on the flats.
It appears to use a couple of gas lifts. The key is to make the pivot point work with the chain. Similar bike here: https://www.youtube.com/watch?time_continue=20&v=B7Lqr_9u7jg