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London Fixed Gear and Single-Speed is a community of fixed gear and single-speed cyclists.
@No_Fork
there is difference in stretch and play. the worn chain has lots of play. try making it shorter and longer laying on the table, you should see the worn chain can be made much longer/shorter then the new chain. Thats what takes up energy and why its usefull to get a new chain :-)
with halflink chains the force applied to a link is not inline with the link itself (cause of the bend). that makes it go skew a bit, causing a slight stretch...