1) I can be blown up, suspend my trading for 2 hours, and be down 500k.Verdict: Negative outcome. Down 500k, do something else for 2 hours.
2) I can pay this pirate the full value of my cargo, and continue on my route, wasting my time to break even. Verdict: Extremely negative outcome. I run the remainder of my route for net zero, which is a full waste of my time. Least logical decision.
3) I can drop my cargo, go get more and wait for the pirate to be gone. Verdict: Least negative of the 3 outcomes. Down 500k, go get more cargo, try and find away around pirate or wait for him to be gone. Most RPable outcome. Could hire an escort. Could try to escape him next time.
4) You make a reasonable demand. Like 1 or 2 mil. I RP with you. I pay the fine. Verdict: Everyone comes out positive. You have 1 or 2 mil, I get roughly 10 mil from my cargo. I still use the route. Possibly with escorts next time.
2 will always be my last option. 4 will be my first option. 1 or 3 will be second, no matter what. My time is more valuable than the credits I lose. Running the remainder of my route for 0 profit is not logical.
I won't do the // message, but I'll RP it in such a way that leads to my destruction or him asking for cargo.
The second you demand the full value of my cargo, I will write you off as a lolwut and find the most spiteful way to end the encounter. If I can shoot my own cargo, I will. If you sit on a route, and pirate every trader the full value of their transport, they will stop using that route. and then you have no one to pirate. It's not a sensible pirating tactic.