Quote from: Jackatwo on December 27, 2017, 02:15:31 AM

Quote from: leps on December 26, 2017, 10:44:17 PM

This method of selling coins on an exchange is old and it never worked out. Bittrex and C-Cex used to do this type of ICO offerings in the past. Most of them don't recover from the dump. ICOs today are more organized and many of them are careful enough not to let whales hoard the coins and when we have these coins spread out among investors the chances of being successful are much higher. For all these reasons I don't think this is the best choice to make an ICO on an exchange like MagicCoin did. I will be watching from the sidelines until I see that this project is good enough to buy.

well, I stuck 1K on these coins at what I call high risk, the only reason I did that was that I was feeling generous and had made a huge amount of another coin.
But I am getting a bad feeling about this coin now, magic coin Huh

or a coin of magic: Roll Eyes

one minute you have something worth investing, next you have nothing, Cry

I feel this could be the later.

actually, the home page kept me amused for a few seconds, hmmm yeah I am easy to amuse watching the pattern of everything move around as the mouse moves over. actually, it is not a bad web page.
Others say it isn't in English but on the right headers on the front page says English or Chinese, click on the English and your all good to go.

Make and Account
They ask you to make an account to sign in, I did this and even was able to give myself a username of Jack, which I thought, pretty neat, it was very easy to make the account and didn't have to go through the bullshit of waiting for an email but logged straight in.
On arriving in the website there is a welcome area (link to register https://magiccoin.io/register/?ref=jack) everything is in English, I am impressed, so far Grin

The Dashboard
Gives you all the appropriate information one needs, Update Profile, Your Sessions, Activity Log, Wallet, Conversion, Investing and Support, all very easy to navigate around.

Make a Ticket
it wasn't until I tried to open a ticket that I started getting problems, with clicking on the support button, I don't like the idea of having to sign in again when navigating around inside the web pages, Angry

(Login to The Support Portal) This I tried to log in, https://magiccoin.freshdesk.com/support/login my username and password was not excepted and it seemed to want me to sign in using Google, Facebook or Twitter but not the email address and password for the origional website, Now thats a bad mistake as I do not use my google account to signin to websites as this, I use my google for emails and don't see why I should have to use it for anything else but that, as for facebook and twitter I don't have them, nor want them.

Such a pity I came to a stop all because the webmaster decided to make that part harder to make a ticket, bugger it I will bite the bullet and sign up again, I want to see what happens. so I can tell you all.

well, I filled the form in again with my full name and email address, but now I have to wait for an email before continuing, the email arrived asking me to click on the link and a new page opened up with my name and asking me to input a new password , now why all this when I have already made an account previously.
Ok, I was able to send off a ticket, I doubt I will get a reply, but for there own good they should reply, I will let you know in this forum on an edit here.

The Wallet
Back to the wallet icon https://magiccoin.io/wallet this area welcomes you using your name, the page shows deposits and withdrawals in Mage and USD plus allows you to download the wallet, I will add the short cut to the wallet here>> https://mega.nz/#!Myp0iJTI!Sh_ICLqNPdyIE5baGbUuDqFcUV1cVP-k8tr39MiE_7M
Who Ever wrote the page up was a non-speaking English person but had enough knowledge of the language to get by.
they leave the following message which everyone should know, if they didn't they know now.
IMPORTANT :
This is the wallet version for computer. We encourage, even force you to save MAGE there. Benefit:

No one can hack, steal your coins. Note: Always backup, or you will lose all coins if lose wallet.dat file.
You will get more MAGEs from the same amount of MAGEs available in your wallet. Condition: open the wallet online 24/24.
The MAGE reserves on any website are at risk from hackers, even at MagicCoin.io and Cryptopia.co.nz

Even though the English is not that good, I will say it again for them in better English, especially for people that use Google translator
Always download your wallet to your personal computer, place your coins in their, and make sure you use a strong password, once you have downloaded and installed your wallet, save the wallet.dat file to at least 2 USB keys, write your password onto paper and put them both away in a safe place

I presume that this wallet is for a windows operating system, I am not sure about Apple or any other system, it's unclear here.
all In all the Wallet is very easy to use for the novice. Cheesy

Investing
When clicking on the invest button, this will take you a new page which gives you a countdown of so many Days, Hours, minutes and seconds to when a new Invest will start?
I do not recommend that one invests here as looking at the benefits they are pretty steep if you want to draw out early, losing 50% of your investment.
if you did stay for 299 days investing $1010 to $5000 your interest will be a whole 0.35% commission, I am unsure if that amount is daily, if it is an investment of $1010.00 which is the minimun then you will get $3.535 per day for 299 days. which seems too good for what you get, bringing back what your Dad used to say, if its to good to be true then don't go near it.

WhitePaper
This page also has the white paper, which everyone is asking about. it can be downloaded from here >> https://magiccoin.io/upload/document/whitepaper_cn.pdf ......I just hope you can read Chinese, now this is really disappointing when one cannot read about something, then why continue and just move on,
but I did double check into the Chinese writing and it reads and they are dumping coins to make them scarce
The form of profit will be used as the Magic Magic Community Development Fund. In addition to strengthening the technical basis, but also from regular operating profit burning
Burning to ensure that the community benefits from the scarcity of MAGE

Mining Currency: Magic coins (magic coin)
Sign: MAGE
Blocking time: 1 minute
Algorithm: Script

POW
1 - 2102400 block = 0.5 coins
2102401 to 4204800 block = 0.25 coins
4204801 block to the end = 0.1 coins

Staking
Staking time: 12 hours
The most staking: infinite
The amount of money needed to mine a coin: 50
The amount required to send / receive the transaction: 3

One thing I do like with staking, the wallet does not have to be online to stake

I think I have covered a lot in here for everyone to make their minds up. the more I read the more I seem to like it, but like everything, I am suspicious and extremely very very cautious. Roll Eyes

I am sorry if I have rambled on, but I wanted to get people in here that opportunity to learn something. Grin

I have edited here.... once you have downloaded and installed your wallet it does not take long for 87905 blocks to sync, there were only 8 connections and I did not see a .conf file in the folder.
I had "No staking because I do not have mature coins" I think they mature in 7 days so then I will see how much % there will be in staking.

nice questions, I will reply as soon as I can

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