added document about icos

docs/icos.md

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+icos are bad.
+
+* One person can't know it all.
+
+Part of the problem is that ICOs pay all the 
+money at once for a huge project made of many little 
+pieces. Giving one individual financial responsibility
+for so many diverse things is unreasonable.
+There is no way for them to make educated decisions
+for so many things.
+
+It would be better if each goal had different people
+taking responsibility. Lots of micro-apps that 
+cooperate is better than a giant unified system.
+It is good for software development too
+see "The Cathedral and the Bazaar".
+
+* Investors are powerless
+
+Another problem is that the investors have so little
+control in what is done with their money.
+With ICOs the investors are trusting the corporation's owner
+to spend the money wisely.
+It would be better if each little goal of the project
+raised money seperately, that way investors could know
+where their money is going. That way investors only 
+invest in the technology that would actually benefit them.
+Bundling goals together into a single ICO is economically
+bad the way bundling any products for sale is bad.
+
+* ICOs encourage violence
+
+This is the person who has control of all the money raised.
+Everyone has to stay on their good side, 
+or else risk losing their jobs.
+The person who owns the corporation can get away with crimes.
+He has a legal team ready to sue anyone who criticizes him
+or his corporation.
+The owner is holding all his employees as hostages.
+If you blow the whistle on his crimes, then everyone
+loses their jobs. Which means all the people you have been
+working with on a daily basis would hate you.
+
+The investors of the ico didn't intend to create a monster.
+They were investing in a product, not in an individual.
+The employees don't want to deal with an abusive boss.
+They just wanted secure employment in the exciting
+blockchain industry.
+
+Most instances of these sorts of abuses are never known publicly.
+The owner can make all his employees sign contracts
+to agree to never talk about what happens on the job.
+The owner can offer bribes, to pay people to never
+mention his crimes.
+
+Putting good people in charge is not enough.
+The Stanford Prison experiment shows that almost
+anyone will violently abuse people, if they have 
+the opportunity. 
+
+Part of the problem is the hierarchy of the modern
+corporation. Money flows downward through a pyramid.
+The hierarchy happens because this is the easiest way
+for the government to interact with the economy.
+Teaming up into corporations limits legal liability 
+of the employees, and reduces cost of legal compliance.
+Blockchain offers a way to circumvent government.
+
+* Blockchain can save us!
+
+I propose an alternative way to raise money
+and pay workers to create new technology.
+We can use smart contracts to get rid of the middle man.
+So the money moves directly from the people who want
+technology to the people who create it. This method solves
+all the problems described above.
+Dominant assurance contracts, which I wrote about here.
+
+
+