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Just follow the old Eve online adage - don't fly what you can't afford to lose.

If there's lot of theft and you can't store bike at a secure place - have a cheap bike.

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Yes that's the compromise we have had to live with. But some countries like Singapore and China are showing it is actually possible to just solve theft so you don't have to deal with your bike being stolen.
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There are places in the US like this as well, but are general smaller / tight knit. I don't know of any high trust dense urban areas.
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