I've heard some Western European folk talk of an informal exchange program in places like Copenhagen, cities saturated with bicycles. If you can't find your bike you take an unlocked bike in its place.
I've also known some native Dutch folk who militantly lock up every part of even their city bike so as to prevent the bike from gettin' got.
Regardless, with 18,000 bikes stolen in a city of roughly 600,000 one can safely assume someone is making a living dealing black market bikes.
All that to say nothing of the chip program. Sounds like an expensive and questionably effective solution to a big problem.
Hundreds of bicyclists waited their turn on Town Hall Square yesterday to receive one the first 600 tracking and registration chips being given away by the City Council
The sensors are inserted in the bikes rear reflector and can reveal its location should it be reported missing by the owner.
Some 18,000 bikes are reported stolen in Copenhagen each year.
The city is giving away 5,000 sensors in all. The next event is scheduled for Monday, 22 June, at a location to be determined in the coming weeks.
See related story: Bike chip project rolls out