Bounty hunting is a waste of time in this game because if they don't want to die, it's impossible to secure a 1v1 kill a competent CMDR in any open-ready build if they are awake. It's impossible to secure a wing gank on a competent CMDR in any open-combat ready build if they are awake. The game needs a balance pass, and any log-off while in danger needs to result in ship destruction and all that entails. Then we'll start seeing some bounty hunting. Of course, it's totally disincentivized with the 2M cap.The problem always comes down to why players are being attacked. Take the Deciat situation, it is daft to make a run in open for Felicity in what looks like a weak ship. The 'victim' of the attack doesn't get why their ship is being attacked and normally falls quite quickly to the wing of engineered corvettes or anaconda's that's jumped them. Normally, there is no threat or piracy involved, just destruction. The ganker just comes across as a bully, out to spoil other people's game, which is why the PvP crowd gets such a bad rep. Victim's might feel justified to combat log, or even quit the game, if they feel that they're just getting bullied.
I still feel that the C&P still needs further enhancement to smooth this out. For example, almost intimidate response of appropriate security forces in High Sec systems, it will give the victim a chance to escape. There would be slower response times in Med Sec and Low Sec systems but by then the 'victim' player should know the level of risk their taking and, of course, Anarchy systems everything goes. In fact, I wish they'd up the number of NPC pirate attacks, dependant on a system's security level. That would force players not to Min/Max their trading ships and take the possibility of attack seriously.
It would also be nice for players who have notoriety to have their location appear in the galaxy map. That way PvP Bounty Hunters can go looking for them and when the notorious player's ship has been destroyed, any victims of their actions are notified that they've been delt with.
On the more positive side, I've been playing in Open Powerplay for the last six months and really enjoying the fact that I've got opposing players after me. I'm expecting to be attacked now and have a ship built to deal with this.
The best proposal for meaningful pvp and a working crime/punishment system came years ago from SDC. They sent it to FDev and in response we were all gifted with the notoriety system. Yay.
Source: https://www.reddit.com/r/EliteDangerous/comments/7d4mbl/sdc_presents_crime_and_punishment/