Thanks for the mention. We have a few hundred members and it doesn't have to cost you one bitcoin to use our site.

Our goal is to function like a bartering exchange where it's possible to exchange small value items for larger value items.

You can create your own penny auctions for free, earn 100% of all bidding credits, and use those credits to bid on other penny auctions. Again this is a totally free service, you can CHOOSE to purchase bidding credits if you'd like, but it is not necessary for using the site.

We hope to continue to have more an more items posted which we think will increase the demand for bitcoins as the site accepts bitcoins payment for credit...which again is optional, you do not need to buy anything to play.

Because you aren't taking into account bidding fees...

Lets say you post a bitcoin (approx $3) and charge 10 credits ($0.10),bid, if final auction price is $0.50 you would receive the $0.50 from the winning bidder, who gets a great deal on a bitcoin, and you receives the $5 in credits from the 50 bids that were place on the item for a total of $5.50. Even though the winner gets huge saving, you come out ahead as well.

That's not a guarantee, your bitcoin could sell for only $0.02 in which case the winner gets an even better deal and you would only earn 22 cents; there's a risk on both sides because if you aren't the winning bidder you lose all your credits. There's no clear advantage on either side and it becomes a strategic game.

I always recommend new posters, to start out with something small that you don't need (good ebook or old cell phone) to get a feel for how it works.