I try to be consistent. If something has a higher probability in life than my gear being stolen, then I should be more afraid of that. But following that through, I would probably never leave the house to drive to the trail head.
My kayak is worth several thousand dollars, yet I leave it on the beach with everyone else's - rather than carry it up to camp and chain it to a tree. It would be easy for someone to walk away with my carbon fiber paddle if they were so inclined. But I can also choose to not worry about it - or rather, deal with life as it unfolds. That doesn't mean I leave the house/car unlocked or not pay attentions to various environments - it's a balance.
I could be a little concerned that a hammock is more of a curiosity for hikers on the trail and they might come closer to check it out. And coming closer, they might be more tempted to "take a souvenir". But again, I could follow that rabbit down a deep hole of worry.
After a few raccoon attacks, including one where they carried off non-food times (paddling bootie) for several yards, I've started playing around with small battery powered motion sensor lights. One on the picnic table and one by my hammock. That way, if I hear a noise, I can at least see what the critter is. And of someone approaches my hammock or I return to it at night, for a few minutes it is lit up. I pay attention to the light "footprint" so I don't interfere with others who aren't interested in the experiment.
These days I am playing with a DIY gear hammock that is waterproof (including flap cover) and only needs trees about 5 ft apart. I don't keep it near me unless the trees dictate that.
Food is usually hung from a tree away from camp but sometimes it is in sealed containers on the table. So far, where I've gone, I've been way up on the food chain. I know that is not the case in all locations.
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