[akhtene]

As has been stated before, the One Ring had a will of its own and for the time being It wasn’t at all willing to reveal itself to anyone save its Master (who was having problems of his own). What’s more important, I think, the fact that it wasn’t spotted by the wisest beings in M-E – Gandalf and Elrond (on Bilbo’s way back from the Lonely Mnt through Rivendel)
It just supports a crazy theory of mine [img]smilies/rolleyes.gif[/img] that the One Ring was capable of fulfilling wishes, even unconscious. No-one actually wanted the One to be found – and it wasn’t (for a time). Bilbo wanted just a magic ring to avoid problems and dangers – that’s all he got. Only when Gandalf gave a thought to it and started his search, the One was revealed.