That bike scenario, here in Montréal, oh man, that will put this system to a test... there’s an insane amount of bicycles high jacking, from $100 to $3000 ones. Not cellphones, not cars... bikes, and they can only be properly used here less than 5 months a year because of all the snow.
Indeed there has to be a lot more to it and surely Apple’s engineers have gone through most scenarios...
Seems like a lot of this will work with a healthy amount of good faith in general. At least here in Canada, since I arrived about a decade ago, I’m still surprised how lost cellphones and valuable things appear back... someone finds it and more often than not manages to get ahold of the person that lost the item. Except like mentioned above, bikes, I can’t get over it.