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@danwentskiing
yeah, i don't think it's a huge problem. in nearly a year nobody has come into the shop trying to sell anything suspicious. although i do hear quite frequently from bike-theft victims. almost all of them were using cable locks. toronto is awful for it, so i reckon it's down to the volume of bikes on the streets, the quality of locks people are using, the market for "used' (ie stolen) bikes and the amount of drug addicts looking for a quick theft and sale.
although i don't think it's that bad in birmingham, i still can't bring myself to spend much money on my fixed bike because i'd just worry about locking it up, which i do quite often.