Facebook ads minimum bid?

[Urban]

Lets say that my suggested minimum bid for CPM is 0.35$ and I set mine at 0.04. Does that mean that my ad will be shown with way lower frequency or it means that it will not be shown at all because it's bellow suggested minimum bid?
thanks a lot
Urban
I might not be clear enough with my question. I want to know if FB could stop showing your ad all together because the bid is too low. I don't care if the frequency goes down, as long as they still show it, like lets say 10 times a day, which is super low, but at least they still show it.

[Sparky]

The lower you set the CPM the less often your ad is placed in rotation. Don't go crazy and set to high CPM you can easily burn threw $50 a day.

Personally i think it's a waste of money. It may generate some traffic but if the visitor spends no time on your site or won't make a purchase, they only cost you money! Better off working on the SEO of a site to get higher in the google rankings.

[SARAH C]

I believe it might not be accepted. I would do the suggested bid, or a tad below it.