Yeah, it will work if using photobucket or similar because in that case you are not physically storing pictures here, you are simply pointing to a photo stored elsewhere. The downside is that if you re-arrange or delete photos then it breaks the links in old forum posts and often makes them meaningless. I get very frustrated when reading old threads to find that the images are no longer available.
Sadly space costs money as I know from my blog which costs me about £90+ a year to fund the 30Gb of Video and photo storage (and keep it advert free).
As there are no adverts on this site I assume it is using a 'free' hosting service where you get very limited space for media?