Hiding a field in a node conditionally
The Field Formatter Conditions module should do the trick. It's currently in beta and doesn't work on excluding fields based on their own value.

However, if you change function ffc_get_condition_fields on line 145 in ffc_conditions_info.inc such that $exclude_current_field is FALSE.

function ffc_get_condition_fields($context, $exclude_current_field = FALSE) {
...
}


it will let you hide field display when it has a certain value.