As of now you can ride UCI competitions without dérailleur, but you need a 6 speeds hub... In France, some competitions allow single speed with only one cog, but I advice you to contact the organisation to be sure. My experience: I ride single speed for about 1 year. I can't ride fast, and it's boring sometimes ... I use a 18-15 ratio, in order to ride a little faster, but it was harder at the beginning to do pedal kicks. However, I'm sure my next bike will be single speed geared. Lighter, simpler, cheaper, and you can use stronger piece, like BMX cog and chain. In addition, with a good chain tensioner, you can trust your transmission. It 's important to buy a good chain tensioner (Surly, Rohloff for example). Cheaper are often not enough rigid. I think too, that a chain tensioner without spring is worst. But if you ride street trial, I think a dérailleur is better, cause sometimes you will need more speed.