This is a segment from the Supply Shock newsletter. To read full editions, subscribe.

When it comes to Bitcoin mantras, “not your keys, not your coins” is as pure as it gets.

But there are levels to it. Sure, you might be self-custodying, but you might still be required to trust a wallet explorer, for example, to tell you your BTC balance.

Run your own full node, however, and you’ll only ever need to trust your own copy of the Bitcoin ledger.

So here’s one of Bitcoin’s oldest cautionary tales about why the above still matters, a decade and a half later.

Picture this: It’s mid-2011, and there are two major exchanges to buy and sell bitcoin: Mt. Gox,…

Read more on Blockworks