Looks pretty gimmicky/useless.
elaborate?
Apologies; I did criticize the coin without stating a rationale. This is from the website linked in the OP:
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:
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.
You're in the wrong thread, even you should not be in altcoin world. Bitcoin is right for you. I can argue your conclusion many reasons, but please take a look Noblecoin, unless you conclude NOBL is a gimmicky, useless coin too. I bet you dare not post this statement in their thread.