Abstract: A bicycle lock which is adapted for fixedly mounting on a bicycle is the subject matter herein. The subject bicycle lock includes a housing, which has a shackle receptacle rotatably mounted therein. An elongated flexible shackle has one end fixed to the shackle receptacle, and the other releasably connectable to the housing. The flexible shackle is windable upon the shackle receptacle for storage in the housing. A ratchet wheel is fixed to the shackle receptacle for rotation therewith. A lock pin is connected to the other end of the flexible shackle, and is positionable in the housing. The lock pin has a dog, which is engageable with the ratchet wheel to limit rotation of the ratchet wheel and the shackle receptacle to one direction for winding the flexible shackle onto the receptacle. The dog is removable from the housing with the lock pin to allow the flexible shackle to be unloaded from the shackle receptacle.