This oracle monitors the value of the USD and then, automatically transmits the value in Satoshis to a Bitcoin smart contract. In a public interview, MIT researchers explained that they built the oracle to monitor the value of the USD, but it could have just as easily tracked the cost of a stock, the results of a football game, or even the weather..”Bitcoin Oracle” is quite the sobriquet. It suggests that in the world of crypto, Lingham has achieved Warren Buffett status. This would explain why he’d be prominent enough to attract a lunatic fringe along with a loyal following, though he bristles a bit when you mention the title to his face..An oracle is a server outside of the block chain which allows for arbitrary conditions to be checked for. See Also. Using external state in Bitcoin transactions Orisi, Multiple oracle transaction system. ‘Bitcoin Oracle’ Vinny Lingham On Why Bitcoin Is Overpriced. Laura Shin Senior Contributor Opinions expressed by Forbes Contributors are their own..