Psilocybin is a naturally occurring  psychedelic  compound found  in  more than 100 species of mushrooms, which are popularly  known as hallucinogenic  mushrooms.Common terms for these hallucinogenic fungi include magic mushrooms and kick mushrooms.The genus  Psilocybe with about 40 known species are the most potent  members of this group.  Psilocybe cubensis is the common psilocybin mushroom marketed (black market) and consumed  in subtropical countries.

Other species of Psilocy be include P. azurescens, P. semilanceata, and P. cyanescens.In addition to these species  psilocybin has also been isolated from about a dozen other genera which include Gymnopilus, Inocybe, Mycena, Panaeolus and Pluteus.These mushrooms are generally consumed as dried whole mushrooms, or as  powdered materials  in tablets, or in capsules.They are often eaten raw, mixed with eggs  or boiled in hot water to make a mushroom "tea". Rarely the powdered mushrooms  may be snorted or injected.

Psilocybin and Psilocin
As a pro drug  psilocybin- the principal  component of  the mushroom- when ingested is quickly converted by the body to psilocin, which is responsible for the psychedelic effects ("mind-altering") similar to those of LSD  and  DMT. The effects of psilocybin are generally felt within a few minutes after consumption and will last for about three to six hours.

The effects include euphoria, visual and mental hallucinations, changes in perception,  and spiritual experiences, and  adverse reactions such as nausea and  vomiting. Psilocybin can cause a person to feel anxious and have panic attacks. Users may  also experience hallucinations and a loss of touch with reality.Other short term effects include perceptual distortions  (visual or auditory), numbness, exaggerated reflexes, increased blood pressure, loss of urinary control, etc.

Although studies on the effects associated with the long-term use of psilocybin have not been reported, continuous use of psilocybin has been associated with people developing prolonged psychosis resembling paranoid schizophrenia. (Psychosis is a mental disorder that  is characterized by a loss of touch with reality). Overdose with psilocybin mushrooms (or psilocybin) alone has not been directly associated with death, however, consumption with other drugs or alcohol may result in serious adverse health effects.

So far there is no report on these psilocybin  mushrooms causing physical or psychological dependence (addiction). The legal status of psilocybin mushrooms varies from countries to countries. Both psilocybin and psilocin are listed as Schedule I drugs under the United Nations 1971 Convention on Psychotropic Substances. However, it does not apply to the mushrooms and their cultivation, preparation, and transport.