You should have imported the hundreds of posts from other threads where people already voiced their opinions. There were like two threads with 5-10 pages of people complaining, as well as other smaller threads.
Seriously though, this is a terrible idea.
What problem does it solve?
Camping? Nope. People will camp MORE knowing they are sucking your gold away.
"Pirating?" First of all, not a problem- the game is about pirates. Like camping, it only encourages people to KoS to either avoid their own demise or get some laughs at the expense of others.
What does it harm?
Exploration. I'm going to be a lot less inclined to search the ocean blue or ship wrecks if I'm going to lose 100 gold for being eaten by a shark or more for drowning because "I should have known better."
Pvp. This game HAS pvp in it. You can't say that it isn't a core feature of the game. Death costs simply encourage even more people to turn tail and run away- which then makes people want to camp because they had to work so hard to hunt you down and probably won't catch something else for a while.
Socialization. You think I'm going to let you stab me in the back and burn my gold? Nope.
Fun. I already worry I'm going to lose my supplies, voyage, chests, and progress(time) when I go ashore. Now I have to worry I'm going to have the gold taken from my pockets. Yeah, that's fun.
I love this game. I have defended tons of changes and ideas that the developers have brought in from alpha to beta to release. I have played this game tons in testing and since release. I'm not going to sit here and threaten to cancel my pre-order but let's be honest. How many new players are going to want to play this game if they get camped by the rich well-established players and forced to lose all their gold? How many newbies will stick around when they worked h*****n that voyage to earn 100 gold, then slip off a cliff and die just to lose it.