I personally think that, unless Chainbid gets promoted much more, the site won't be successful the way it is now.

Because:
It needs ~100 bids for an auction to be fully completed (a prize is rewarded to the winner) [apart from Minecraft of course].

 This means there have to be at least 100 active users in order to reach this state.
Right now I don't see any auction even close to the set limit --> it is likely to fail.
If many auctions fail, there is no real reason to take part in an auction, because it will fail anyway.

==> The site will go down after some time.

Please feel free to correct me if I am wrong

This means there have to be at least 100 active users in order to reach this state.