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@Oswald
Hanging a cork from the saddle in cycling vernacular dates back at least to the 1920’s 6-Day Bike Races. When a champagne cork is popped, power is released and no more oomph or energy. So, dropping your cork or having no more cork means you’re out of it, pooped. Ergo, the racers would hang a cork on their bikes so they’d never be out of cork .. Anything else hanging there is just hipster affection ..