I believe that it is both.
Certain materials start to 'super-conduct' when the temperature is low enough, generally in the range of liquid Helium temperatures (4K, -269C). High temperature superconductors are interesting because they actually super-conduct at liquid Nitrogen temperatures (77K). Liquid nitrogen is much easier to work with and much less expensive than liquid Helium.
When a material is in the super-conducting state, its electrical resistance drops to zero. Not close to zero, but really zero. You can take a ring of material, place it in a magnetic field, and then cool it down to the super-conducting state. When you remove the external magnetic field, you will induce current flow in the ring, essentially creating a permanent electro-magnet. Superconducting solenoid coils are used as high field magnets for things like NMR machines.
All this depends upon keeping the material cool enough. If anything heats the material up, then it will cease to super-conduct, leading to some interesting (and scary) failure modes. Even though you don't have standard resistance heating of the conductors (since they have _zero_ resistance), you still get AC heating of insulation, eddy currents induced in any nearby conductors, heat leaking in through your thermal insulation, etc. Additionally, intense _magnetic_ fields can cause the material to stop super-conducting. If anything causes a small portion of the material to stop super-conducting, then you will get resistive heating at that point, which causes heat production at that point, which causes more and more material to stop super-conducting.
This can happen in the high field superconducting magnets, where all of the energy stored in the magnetic field goes into the no longer super-conducting portion of the coil. According to someone who ran a spectroscopy lab at school, if you are lucky this just means boiling off a bunch of Helium. And if you are in the same room with a high field magnet when it 'quenches', then you will probably 'see stars' from the changing flux field passing through your head.
-Jon