I came up with this idea and it works perfectly. Okay so basically we want to get rid of the videos first frame from the display and then resize the poster to the videos actual size. If we then set the dimensions we have completed one of these tasks. Then only one remains. So now, the only way I know to get rid of the first frame is to actually define a poster. However we are going to give the video a faked one, one that doesn't exist. This will result in a blank display with the background transparent. I.e. our parent div's background will be visible.
Simple to use, however it might not work with all web browsers if you want to resize the dimension of the background of the div to the dimension of the video since my code is using "background-size".
HTML/HTML5:
<div class="video_poster">
<video poster="dasdsadsakaslmklda.jpg" controls>
<source src="videos/myvideo.mp4" type="video/mp4">
Your browser does not support the video tag.
</video>
<div>
CSS:
video{
width:694px;
height:390px;
}
.video_poster{
width:694px;
height:390px;
background-size:694px 390px;
background-image:url(images/myvideo_poster.jpg);
}