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...bicycles have been noted as a form of "currency" in the less savory demographic of the homeless community for many years here. The odd thing about it, from the perspective of someone who looks at bicycle "quality", is that a working, rolling bike seems to be worth the same 20-40 bucks, regardless of "quality". IIRC, when my acquaintance, Brad, got his very "nice" bike snatched, it only dost him about $40 to buy it back, when he found it with some guy over at the light rail platform on12th street.
Which is a pretty good deal, for a nice bike, when you think about it.