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secured seatpost, is it safe?

It looks like the first "domino" keeping the bike securely unfolded is the seatpost, which snaps into position. What exactly is keeping the seatpost secure (the "snap")? Is the snap durable?

and what in the world is

and what in the world is releasing the stem? Looks solid when being ridden, but then seems to just flop over during the folding process. How does this work?

stem release

Ah, that is the very clever bit! The stem is connected to the rear end by cables, thus when the rear end is locked in place, the stem is also locked. No quick release to mess around with, or forget to tighten.
Rob.

durability/safety

The 'snap' consists of two cromoly latch rings which lock into the plates on the rear triangle. The surfaces of these plates are hardened, thus if there is any wear (and since it is a rolling contact, this is very minimal) it will be of the easily replaceable latch rings. In the unlikely event of the latch coming undone (for instance, picking the bike up with a heavy load on a rear rack), there is a safety lock which prevents the rear triangle from folding. The seatmast can only be fully released with both wheels on the ground.
Rob.