It's a mixture of all the answers. It's hype. It's FUD. It's pump and dump. It's groundbreaking technology. It's real world use-cases, and it's vaporware. And it's the greater fool theory on a grand scale. It's all the things simultaneously. In other words, it's a market.
TenX is actually, despite it's name, probably not a pump and dump, for instance (disclaimer: some of that 30M in 1 minute is mine). It's a credit card that links up to various cryptocurrency wallets, and allows you to make real world purchases using them. The token you buy in the ICO entitles you to a portion of the fees collected from processing the transactions.
That is definitional. I invested in it because I don't think it's a pump and dump. I could be wrong. If you're investing based solely on the opinion of others on the internet, you're making a mistake anyway.
TenX is actually, despite it's name, probably not a pump and dump, for instance (disclaimer: some of that 30M in 1 minute is mine). It's a credit card that links up to various cryptocurrency wallets, and allows you to make real world purchases using them. The token you buy in the ICO entitles you to a portion of the fees collected from processing the transactions.