Rather late reply here...
But, I really doubt that the cog is spinning up over the thread and then clicking back down on it, I think I would have to spin it a lot more than what I did for that to happen. Anyhow, I've been riding it for the last few weeks and it's been fine.
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Instead of starting a new thread, I'll just post the new problem here. I've been hearing a creaking sound coming from the crank lately, it just popped up after a few weeks of riding. It sounds like metal being distressed a little, at first I thought maybe the crank arm was twising a little or the crank was bending, but I doubt that. But it's coming from the crank area and I'm hoping it's nothing serious. It usually happens when I'm doing a track stand.
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Here are pictures of my bike. When I created this thread I was disappointed, now I love my bike. Even if I did spend gobs of money to spend it, this bike is sweet.