As you can see, no key. The toggle switch controls high beam/low beam headlight. There is a neutral and oil light. The kill switch on the right hand controls still kills the motor, but the starter button works the horn. Other than that, there isn't anything else. I have a total of three wires going into my headlight bucket, which I think is awesome.
The bike's wiring was in a sad state when I got it, and after struggling with it for a few seasons, I yanked it all out and started from scratch a couple years ago. There is a thread about it here somewhere. Anyway, it has been much more reliable since I greatly simplified it.
Since it is garage kept whenever I am at home, and I live in a pretty safe neighborhood I don't worry about it getting stolen from here. And I rarely leave it parked unattended in a bad area. Also, it doesn't just "start up", there is a trick to it. I figure if someone thinks about stealing it, there are going to be staring at it for quite a while before deciding to move on and steal the bike next to it. Also, I don't worry about someone pushing it up a ramp to get it. There are way more bikes out there worth way more money to merit stealing this.
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