Quote from: serjent05 on June 08, 2014, 06:08:00 AM

Quote from: Willisius on June 08, 2014, 05:24:34 AM

Quote from: serjent05 on June 08, 2014, 04:11:27 AM

Quote from: Willisius on June 08, 2014, 04:07:12 AM

Looks pretty gimmicky/useless.

elaborate?

Apologies; I did criticize the coin without stating a rationale. This is from the website linked in the OP:

Quote

About Magicoin (MAGIC/MAGI)

Magicoin is a peer-to-peer global currency that enables instant payments to anyone in the world. Magicoin is de-centralized and operates with no central authority or banks. Magicoin uses a memory-hard, scrypt-based mining proof-of-work algorithm. Anyones in the world can issue magicoins through their computers to contribute the digital currency community.

All of these already exist as more desirable alternatives. In fact, Magicoin was forked (that is, copied from) from one of these things.

Here are the specifications from the thread linked:

Quote from: Magicoin

SPECIFICATIONS

   Algorithm: Scrypt
   Magicoin distributes coins using the pattern similar to LTC; simply count its value by comparing with LTC, however, we do magicoins, see below for details
   2.5 minute block targets
   Subsidy halves in 840k blocks (~4 years)
   ~84 million total coins
   90% coins distributed "normally", i.e., halving every ~4 years, while 10% coins distributed magically (details explained below)
   In average, 50 coins per block
   2016 blocks to retarget difficulty (use Kimoto Gravity Well - KGW algorithm)

The above specifications sum up the coin, as they are meant to. Nothing new here. The "magic" distribution mentioned is more accurately known as random block rewards, a concept that has been done many times before.

Deductive statement:
The only thing new here is the gimmick of being called "magic."
Therefore:
This is a gimmicky, useless coin.

by stating that you simply means all other cryptocoin is just a gimmick/ useless.. since almost all of them are just fork or clone.. and lots just copied the other coins w/o modifying anything and infact it's not new.. .. rather than saying anything useless... u should have noticed some innovation on the coin, the double block which appear 2 days every 2 week..... and the dedication of the dev to develop and implement new stuff to the coin.. oh well sad to see ppl just bursting something w/o any form of indepth research about the coin...

+1