I like how it is handled in EVE, the only place where ganking is not premited are complete newbie systems, everywhere else you are fair game. Though ganking people in highsec has consequences and you can easily avoid it by taking precautions since most ganks in eve are greed motivated, not just by lulz.
EVE is not a forgiving world and it takes some knowhow and effort to survive, which is why I like it.
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