The race to hack the iPhone was taken up a notch today by the folks at the iPhone Dev Wiki (Google it, they still don’t want links in to avoid crashing their servers), as one of the team’s most dedicated members claims to have written, compiled and ran a “hello world” application—geek-speak for a test program that simply displays the text “hello world”—on the iPhone. Patrick Walton (or “Nightwatch”), who appears to either be a student or professor at the University of Chicago, is being credited with the break-through.

Once a video surfaces and others and/or others are able to confirm the process, we’ll know for sure. Good work PPX traders, you called it: the proposition has been valued at POP$80 or above since the iPhone’s release, and it’s currently trading at POP$91 and climbing. —John Mahoney