The Liffey Cycle Route, which was first proposed over five years ago, is being abandoned for the time being.
The city council's going back to the drawing board because no one can agree on what path it should take.
In one of the proposals known as Option 7, the segregated lanes for cyclists along the quays would have forced traffic to divert through Stoneybatter and Smithfield, adding a further 1.5km to drivers' journeys.
There were heated exchanges as tempers flared over who's to blame for yet another delay to the long-awaited project.
Fine Gael's Kieran Binchy expressed his disappointment with the failure to launch; a point which was echoed by all fellow councillors.
"We've had five years to get this right and we have failed. This is one of the most dangerous places in the country to cycle. People will probably be killed before we put in a proper cycle lane along the quays."
A compromise put forward in May 2017 via dublincity.ie
The National Transport Authority is to commission a third party to review the Liffey Cycle Route.
However no timeline has been given so it means road users have no indication if, when or how the project will go ahead.
Meanwhile Dublin City Council has reported a 4.6% rise in the number of cyclists in Dublin.
The busiest point in the city is the junction of George's Street and Dame Street with over 7000 clocked in one twelve hour period alone.
Almost one in four vehicles crossing O'Connell Bridge is a bike, while a fifth traversing the Samuel Becket Bridge is on two wheels.