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Counterpoint: the predominant consideration should be the potential impact on self and especially others in a crash, not the total energy involved. Speed limits go hand in hand with the environment: increased presence of vulnerable road users = lower speed limit.
Quick calculation says a 75kg total weight cyclist travelling at 20mph has the same kinetic energy as if they were dropped from a 4m height. Even at 20kmh, it would equate to being dropped from just under 1.6m, easily enough to hurt someone.
There’s tons of roads where cyclists can go faster. Acting entitled to ride recklessly at 30mph through a popular pedestrian park is ridiculous and contemptible.
A quick and dirty mental calculation tells me that a bicycle would have to travel at circa 150mph to have the same kinetic energy as a car travelling at 20mph.
That is one good reason for speed limits not to apply to bicycles.