To be a realist though, the mint controls it. They can choose not to redeem for bitcoin.
In #Cashu the experience of having extremely fine-grained control over where your money is stored is such a powerful feeling.
This is a screenshot from the app I'm working on -> nostr:npub1ref7jqxrh0z74554y900ufajer2lh52lk0wczrdrqcm8fjmjzweqll64x3
Discussion
Of course, but they don't know who I am. So it's not a PayPal censoring WikiLeaks situation, because in the Cashu model they wouldn't know who WikiLeaks are.
There are people working on alert mechanisms for determining if a mint is rugging, I think it's still in development though.
I would never claim this is a substitute for onchain self-custody, but it is more private, faster, and cheaper than onchain Bitcoin and that has untility.