I think the best option is a compromise of both. To me, however, any punishment regardless of what it is is bad.

The greatest punishment in BDSM is a negative punishment, however. The removal of a Master or Mistress's attention. This one is almost guaranteed to work as a punishment rather than play as some BDSM punishments can be mistaken as by the sub. Its the old, old joke... Masochist: Beat me, hurt me, spank me! Sadist: No.