(Referenced by 225; 235)

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Let us now return to the starting point of the Punishment Semeai Sequence shown above. Please note that the ko-threats , and , compensate for each other.

It took White seven moves / ko-threats () to reduce the liberties of Black's group in the top right below the Punishment Semeai Liberty Level. This means that two of Black's nine potential nakade-ko-threats would remain unused.

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If we go back further, and assume that Black kept his four kikashi / in the top right corner in reserve, to use these as ko-threats, Black would run out of valid ko-threats in the nakade much earlier. Now, there would five potential nakade-ko-threats remain unused.

What Black invested "early" elsewhere on the board, will become lost "late" in the nakade. Black's potential ko-threats in the nakade cannot be counted independently from the rest of the board.