As with all crimes, the best way to reduce occurrences is to make it not worth the criminal's while. You'll probably always have some crimes of opportunities from amateurs, but the pros would probably reconsider if they felt they could really get in trouble and that the money from the bikes isn't worth the trouble. But that's easier said than done... the police has limited resources, and they can't do everything. Maybe if one day they spend less time on the war on drugs they can spend more on property theft? If few big organized networks steal a large fraction of the bikes, dismantling them could solve a big chunk of the problem at once. Who knows...
And just for fun, here's one video that looks staged, but it's still probably a fantasy of many who have gotten their bikes stolen. Let's just say that it involves paintball guns... (Don't actually do anything like this, report all thefts to the police... just don't expect them to do much if it's your bike.)