Interesting but I think people are stretching too far trying to make the connection. Magic rings are not exactly rare in mythology and, in it's original conception, Bilbo's ring was just a generic magic ring that made you invisible. It served the purpose of allowing Bilbo to play the burglar while he gained more confidence in himself. It was not a cursed ring.
"You can't fight the Enemy with his own Ring without turning into an Enemy" - J.R.R. Tolkien, Letter # 81
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