Will Bilbo Reveal the Ring to the Dwarves?

I was just posting over at the "Bilbo Kills an Orc" thread and this question struck me. When the spiders attack the company Bilbo eventually has to put the ring on and in doing so has to tell the dwarves about it. So Gloin knows about the ring and what it can do. If he does then his and Gimli's lack of knowledge of the ring at the movie Council of Elrond is inexplicable. So how will PJ solve this problem?
 
I was just posting over at the "Bilbo Kills an Orc" thread and this question struck me. When the spiders attack the company Bilbo eventually has to put the ring on and in doing so has to tell the dwarves about it. So Gloin knows about the ring and what it can do. If he does then his and Gimli's lack of knowledge of the ring at the movie Council of Elrond is inexplicable. So how will PJ solve this problem?



So the logical link between a ring that made you invisible and the One isn't necessarily clear, so my feeling is that Gimli's surprise at the Council of Elrond is appropriate. Even Gandalf doesn't connect the dots for many decades.
 
in that Legolas & Co apparently help the Dwarves escape from the spiders, so it could well be that Bilbo won't have to reveal he has a magic ring at that point...
 
Nor Gloin, nor the rest of the dwarfs knows that one is the ONE RING to rule them all. They just know it's a magic ring and that's all. Even more, nor Gimli nor Gloin have a reason to believe the ring Frodo put in the center is the same Bilbo had.
 
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