To those who then went on to respond to my post and point out flaws with the new system, yes, i did say in my post the new system also has issues. I just prefer the time based delay instead of the pay it off version.
However, i do like something with this version.
How about this: cobra pirate who has 200k bounty wants to get rid of it or "sell" it. He buys a a sidewinder for it and gets destroyed. Instead of bounty just disappearing, the bounty gets added to insurance cost. The added 200k insurance wouldnt disappear untill you have really paid it. And taking sidewinder will postpone It.
Meaning that when he flies again with his cobra and gets destroyed, he still has To pay it
However, i'd go further. The whole kill yourself or get a friend to kill you is a problem indeed.
So i'd say bounties can never be lost without both the time delay and then paying it off. If you kill yourself before the time runs out or you are killed, the timer keeps going.
I'd also remove players being able to gain bounties from each other. Its been abused to death and its still being abused to death.
Of course, if FD can think of a mechanic which is not abusable, but still puts a punishment on players, i'd be very happy to see such.