I am cofused, you said "if I feel a chip is worth 20 bucks and your reserve is 99-cents, my $20 bid stays at 99-cents until someone bids against me. If no one else is interested in the chip, the reserve does not get met and my interest is of no use to either you or me."

If you bid $20 on a chip I have a 99 cent reserve on and no one else bids against you, you win the chip for 99 cents. You seem to be a winner in that senerio and should be very happy!