Magic Conductors currently do absolutely nothing, but will reduce MP cost of spells in the future.
Also, in the future, players might be required to have a Magic Conductor in order to cast spells.

Description This is a twisted, black tailbone. It has been polished and is engraved with an ancient demonic curse.
Type magic conductor
Usage This item is useless.
Maximum Stack 8
Cost to Buy This item cannot be purchased.
Selling Price Sell for 25 coins to Magic Stores.
Maximum Upgrades This item cannot be upgraded.
How to Obtain Dropped by Blisterbone

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