The idea of bitcoins was first centralized in 2008, when the bitcoin domain was registered. In 2010, the bitcoin market "MtGox" was established, which was the most widely used currency exchange market. It was closed in 2014 due to security and other issues. In 2011, the bitcoin prices began to rise, and more sites opened for international bitcoin trading.
Bitcoin was the first type of cryptocurrency. A cryptocurrency is an online version of a medium exchange, like money. Cryptocurrencies have no government or hard assets, which makes the price of a cryptocurrency very volatile. However, cryptocurrency has generated a following because of its potential to be a new alternative currency that is accepted multinationally.
From a couple of years to a few decades are even longer, bitcoins or other cryptocurrencies can either become a leading currency, or dissolve into nothingness. It is hard to tell now, as there are events that depict both the potential and the demise of these cryptocurrencies. For example, with the MtGox scandal and the closing of the trading market, it has shown how possible it is to manipulate numbers and scam the market of bitcoins. On the other hand, cryptocurrencies, specifically Dogecoins, were used to fund the Jamaican bobsled team so they could participate in the Winter Olympics in Sochi (roughly $30,000 was raised).