People (including Cryptonames.com) are willing to pay 1 BTC for the BRANDING possibilities of this name.
Have said it once, and will probably say it again: Bitcoin and all the other crypto/digital/virtual currencies are barely beginning. Wouldn't you agree? Try to acquire this name for this price when things really take off. If you believe the price of BTC will go up, then so will the value of associated domain names; they're directly tied to each other.
So what you're basically advocating is for everyone to bid this way high.
No. Correcting a misconception and clarifying the reasons behind the correction.