What I tell people is that bitcoin is like a shared excel spreadsheet (ledger) where no one controls it. A custodial system is like an excel spreadsheet that one person controls. That being the case, if you're going to do that latter with wrapped bitcoin, you need to have a good reputation and earn trust. That was the mistake of cashu. Next time we do mints, they have to generate good reputations without rug pulls. Preferably using nostr and native taproot. And explain the trade-offs clearly to users.