Alright, you really need to stop. Both of you. Neither of you really want to listen to a thing that people who really, actually build engines for serious work who have been at minibike & kart racing for years & years have to say. The amount of knowledge I have absolutely pales in comparison to what some of the people here have been telling you.
As for you, you're free to grenade an engine as you like. Don't come whining to any of us when you blow a flywheel & cause some serious injury. You're the one that wants to do a ton of work & build a go-fast engine without even taking the first two steps of what SHOULD be done. Unless you have a tach, you really don't even know what engine speeds you're turning, you can't just "guess" & pray for the better.
If you can't build a good, solid, SAFE powerplant yourself, you can't exactly go around telling others how to build theirs when yours is a grenade.
Rabban, get a billet rod & flywheel. Then, start figuring out exactly what you want to do with the bike. Tons of people have given you good, sound advice so far. Build a reliable cruiser with a little extra pep, forget about building a balls-out race motor you can cruise around on for cheap.
I swear, it's just like the folks on gun forums & in gun stores.