On a ride yesterday a woman had a cable made from vinyl coated garage door cable with an eye loop at each end. It was very convenient being light in weight and easy to pack in her saddle bag. Her theory was that it is enough to force the thief to bring a tool with him. If he has a power grinder, like the one you've shown, he's going to get her bike anyway.
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My greatest fear is all of my kids standing around my coffin and talking about "how sensible" dad was.