Facebook adblock?

I'm just thinking out loud here but couldn't I block competitors ads on facebook by creating an ad that people are extremely unlikely to click and bidding high on the cost per click?

The high bid on CPC would mean my ad would be displayed over a competitors because I've priced them out of the market - but if nobody clicks the ad it all happens at no cost to me.

Where I'm going with this is, should my friends and I decide for some reason we don't want to see advertising on facebook we could create a dummy organization for ourselves. Some brave soul then creates an ad we don't intend to click, and bids high to ensure "our" ad is the one we are served.

Someone tell me I'm wrong about this. Actually, I'll just go ahead and try this out.

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