It's easier to do with a single chain ring (I took this picture as a demonstration shot) and it puts the shackle in a place where it is harder to f with... even if you cut through the cable the little double pinned shackle is still in a place where it makes the bike un-rideable and then there is still that pesky rear shackle you have to deal with.

I have locking or allen keyed skewers and seat bolts on just about every bike I ride so the thief that wants my ride is gonna need to bring a full tool kit and hope I don't catch him / her in the act.