cool, i get a lot of really tiny bubbles out of the 50cent airstone on the end, probably about 1mm size about 10-15/sec.
The fermentation process, the yeast creating CO2, creates alcohol. Which in turn kills off the yeast. The baking soda some how buffers that, so the yeast live longer. Not really sure on the how the baking soda buffers it, but that's it's purpose.