In Barcelona many "stolen" bikes are actually the council taking them because you are not allowed to park bikes against sign posts.
You can get them back. Unless you have one of these bikes.
Pity the folk that loose their keys. Some times a crap lock is useful as a deterrent but you don't want to make it hard to get your own bike unlocked by people authorised to do so, including yourself.
Cool idea t'ho if your only problem is lazy thieves riding off with your bike.
This post is one of a long line of my "more security is not _necessarily_ better security" posts.