As a domain owner burdened with paying each year the Government Tithes and the pennies Registrars make on the domains they sell - and no way to cover those costs beyond selling some of his domains, Edward gave thought how people could make some money renting what he owned to others, until he wanted to use the domains himself. Daily rentals simply seemed like a great alternative to holding them and getting no value - in fact, having to pay each year to keep possession of them - and thus, BidCents was born.
The name is a take off of AdSense - Google's ad-engine, where consumers and businesses bid to own search terms - so they come up in the top of the list as people search for what they want. Why not allow consumers and businsses to bid on domain names and do the same thing??? By having a domain name with great relevance, it is far easier to come to the top of a search than it is to pay Google or related search engines, hoping they bring you to the top based upon how much you pay them??? Renting the right domain name, can simply be a far more cost effective and relevant way to do the same thing. And if you like the domain you rent and find success, assuming the owner is open to it, perhaps you can buy it from them later.