Yes really.
Your idea has not only been tried in a game called Sigmastorm2, an HCS game no longer actively developed.
Let me offer some advice for the new player, or old one, who may not understand the intricacies of all the different aspects of Fallensword, especially being attacked by another player and why.
First and foremost; don't carry any sizable amount of gold at ANY level! It's the main attractant to being hit. It's certainly way too easy to get rid of gold in the game these days. Look at the FSP market place to get rid of anything more then 200k. Anything under that can buy small pots in the Auction House or Potion Bazaar and even bounty tickets for when you want to take a bounty(just joking) or place one.
Secondly, no trash talking. That includes in your bio. "Attack = Bounty" in your bio is trash talk. It's a threat that HCS has allowed for the longest time so they have forced players to handle that threat. It does nothing to deter anyone. In fact it could be one reason for being hit. Get rid of it. Everyone knows they can be bountied for an attack.
Thirdly, if you are incensed at being hit for gold, even just once, and must have vengeance, make sure you post a healthy sized bounty besides the minimum unless you want to see that bounty expire without any reprisal being delivered whatsoever. Sparkling FSPs tend to draw more attention to a bounty and you can use them from the ones you've converted from gold to avoid being a target. Otherwise you just lose gold for posting a feeble amount, an even greater injustice.
And of course your last option, the expensive one, the one that allows you to play the game in a nutshell without fear of losing a single point of xp is PvP protection. Ironically, this one doesn't stop gold from being lost. You can still be attacked for gold under PvP protection. So back to the first piece of advice and just don't carry any sizable amount of gold, it makes you an easy target, and you can avoid being attacked, almost always!
And one last thought. Players who attack others do spend stamina! Lots of it. Probably more then someone who only levels because they also have to level. They are not overflowing waiting for content. They play the whole game...