It won't discourage me. The next time I will have the chain attached...plus a little note inside the cam....and that little picture trick that everyone is talking about.
Heck, I might buy two cams. One I will place to take shots of deer as they pass by and the other will be set up about 20 feet in a tree to take pictures of the cam that is mounted closer to the ground.
That aughta get the dirty bugger that stole my camera!