serkantkar - 5:19 pm on Aug 26, 2013 (gmt 0)
I've tried removing dynamic watermarking for the last 2 days and realized this actually hurts incoming traffic more than Google's penalty. Therefore I've decided to continue with watermark. After all the watermark is there to discourage other web sites to steal my server's resources and it's not just for Google intention. Briefly I just follow what Google says: design your web site as if Google is not there.