Bicycle sharing systems (BSS) operate on five continents, and they change quickly with technological innovations. The newest "dockless" systems eliminate both docks and stations, and have become popular in China since their launch in 2016. The rapid increase in dockless system use has exposed its drawbacks. Without the order imposed by docks and stations, bike parking has become problematic. In the areas of densest use, the central business districts of large cities, dockless systems have resulted in chaotic piling of bikes and need for frequent rebalancing of bikes to other locations. In low-density zones, on the other hand, it may be difficult for customers to find a bike, and bikes may go unused for long periods. Using big data from the Mobike BSS in Beijing, I analyzed the relationship between building density and the efficiency of dockless BSS. Density is negatively correlated with bicycle idle time, and positively correlated with rebalancing. Understanding the effects of density on BSS efficiency can help BSS operators and municipalities improve the operating efficiency of BSS, increase regional cycling volume, and solve the bicycle rebalancing problem in dockless systems. It can also be useful to cities considering what kind of BSS to adopt.