I have use Rent-A-Coder alot in the past and have received money. The problem with these sites however is that people can put a maximum bid and so they ask you to make what you would normally charge $1000 down to $200 and in sometimes ridiculous time frames.
Not all the buyers are like that of course but it's very hard to get projects when you don't have any under your belt. So ... you tend to under-price just to get recognition at first.
Yeah I've noticed some of the prices are ridiculous for huge projects so I've tried to stay away from those and gone for the projects that are reasonable in price and time frame.
I guess I will have to lower my bid price though just to get some sort of work out of it, even though it'll probably mean receiving a lot less money than what I'd usually get.
I always tell my clients that 'You get what you pay for.' In other words, What you pay me is related to the amount of work I do for you. Initially, I was told start low.... Not me, I just called a few former customers from my old job and asked what they would have paid me if they were hiring me directly. That gave me a ball park figure...(higher than I thought) to set my charges at. I did and now most are paying me nearly twice or more as much.
I always tell my clients that 'You get what you pay for.'
In other words: overpay for local staff today, becom bankrupted patriot tomorrow. I can see set of too expensive areas: San Francisco, Manchester, Quebec. Are you ready to compete with 'development' countries? Please, check The Pulse of Rent a coder for 'Top 10 Coder Countries'.