The Bordo 6000 is a great alternative to u-locks and chain locks for lower risk situations. It has the versatility of a chain lock, being able to wrap around far more objects than any standard u-lock, while not being as heavy as decent chain locks. It's easy to transport, and doesn't get in the way of riding like u-locks sometimes do (if attached to the frame).
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Pro Wraps around more objects than a u-lock
The Bordo 6000 can be wrapped around a wide variety of objects, since the shape is relatively malleable. U-locks have a rigid 'u' shape, which you cannot bend to suit the object you're trying to lock on to.
Pro Great for medium/low risk situations
This folding lock is a great alternative to u-locks and chain locks of the same security category. If your security risk is medium or low, for example, you have a cheap bike, or you only ever leave it in the hall of your apartment building, the Bordo 6000 will do the job.
Pro Lighter than then heavy duty chains and U-locks
Still not light, but a lot lighter than most of the chains and U-locks (like Abus Granite).
Pro Easier to transport than u-locks or chain locks
As the name suggests, the folding lock folds into a compact bundle, which you can just attach to your bike using the holder it comes with. It's lighter than chain locks, so you won't be carrying as much extra weight with you.
Con More expensive than same security level locks
Coming at around $100 it's definitely not the cheapest bike lock with a Sold Secure rating of Silver.
Con Can be difficult to unfold
The folds on this lock can get tangled, so you might have to spend more time to put it in place than you would using a u-lock or chain lock.