I had a site that i bought awhile ago and i never used it for anything so i just put up the search bar from adsense....do you think i could advertise this and make some money off it...or are search engines a waste of time since google dominates?

Google Adsense for Search does not generate revenue well, you only earn money when people click on paid listings, not general search results. Also this method is a violation of the Google AdSense terms of service.

oops there goes that idea

Adsense for Search is only a product from Adsense, and it sometimes yield considerable income for you too. Also, this search bar, provided by Google, is not here to compete with Google itself in any way.