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Sep 1, 2017 · 17m · top-founders

769: Do This To Use Your Crypto Coins to Shop At Walmart

Nathan Latka · 8m spoken Tran Hung · 7m spoken
0:00 / 0:00

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In this episode of 'The Top,' host Nathan Latka interviews Tran Hung, founder of Uquid, exploring how the platform enables holders of over 79 cryptocurrencies to spend their digital assets through debit cards and mobile services while generating over $50,000 in monthly revenue.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 54.5% of the talking time here. How this is scored →

Nathan as informed peer 3.2 Guest teaching 2.7 Guest disagreement 0.3 Nathan pushing back 2.2
05100:0010:001:03–6:04 · Nathan as informed peer 5/10 GetLatka SaaS Database Announcement Nathan breaks down Uquid's value proposition into simple consumer terms and calculates the exact transaction fees based on Tran's 0.5% fee structure. Tran collaboratively clarifies how the wallet deposits and card reload fees function.6:09–8:51 · Nathan as informed peer 5/10 Transaction Volume Metrics and Growth Targets Nathan persistently presses Tran when the metrics get conflated between transaction counts, monthly rates, and annual dollar volume. Tran patiently works through the language barrier to deliver the exact GMV numbers.8:52–11:09 · Nathan as informed peer 3/10 Founding Story and Addressing Altcoin Liquidity Tran educates Nathan on the market dynamics of 2014 to 2015, explaining how Bitcoin mining difficulty led to an explosion of altcoins and created massive liquidity friction on crypto exchanges.11:09–13:53 · Nathan as informed peer 5/10 Revenue Breakdown, Team Size, and ICO Plans Tran corrects Nathan's revenue assumptions by revealing high-margin mobile top-ups and gift vouchers earning 10-15%, which raises total monthly revenue to $50,000. Nathan then drills down on the upcoming ICO valuation and dilution targets.13:53–16:33 · Nathan as informed peer 1/10 Sponsor Message: HostGator Web Hosting Following a standard host sponsor read, Nathan conducts the rapid-fire Famous Five questionnaire in a friendly, conversational tone.16:33–17:30 · Nathan as informed peer 0/10 Episode Summary and Next Episode Preview Host monologue summarizing Uquid's core traction numbers and promoting upcoming podcast episodes.1:03–6:04 · Guest teaching 3/10 GetLatka SaaS Database Announcement Nathan breaks down Uquid's value proposition into simple consumer terms and calculates the exact transaction fees based on Tran's 0.5% fee structure. Tran collaboratively clarifies how the wallet deposits and card reload fees function.6:09–8:51 · Guest teaching 2/10 Transaction Volume Metrics and Growth Targets Nathan persistently presses Tran when the metrics get conflated between transaction counts, monthly rates, and annual dollar volume. Tran patiently works through the language barrier to deliver the exact GMV numbers.8:52–11:09 · Guest teaching 6/10 Founding Story and Addressing Altcoin Liquidity Tran educates Nathan on the market dynamics of 2014 to 2015, explaining how Bitcoin mining difficulty led to an explosion of altcoins and created massive liquidity friction on crypto exchanges.11:09–13:53 · Guest teaching 5/10 Revenue Breakdown, Team Size, and ICO Plans Tran corrects Nathan's revenue assumptions by revealing high-margin mobile top-ups and gift vouchers earning 10-15%, which raises total monthly revenue to $50,000. Nathan then drills down on the upcoming ICO valuation and dilution targets.13:53–16:33 · Guest teaching 0/10 Sponsor Message: HostGator Web Hosting Following a standard host sponsor read, Nathan conducts the rapid-fire Famous Five questionnaire in a friendly, conversational tone.16:33–17:30 · Guest teaching 0/10 Episode Summary and Next Episode Preview Host monologue summarizing Uquid's core traction numbers and promoting upcoming podcast episodes.1:03–6:04 · Guest disagreement 0/10 GetLatka SaaS Database Announcement Nathan breaks down Uquid's value proposition into simple consumer terms and calculates the exact transaction fees based on Tran's 0.5% fee structure. Tran collaboratively clarifies how the wallet deposits and card reload fees function.6:09–8:51 · Guest disagreement 1/10 Transaction Volume Metrics and Growth Targets Nathan persistently presses Tran when the metrics get conflated between transaction counts, monthly rates, and annual dollar volume. Tran patiently works through the language barrier to deliver the exact GMV numbers.8:52–11:09 · Guest disagreement 0/10 Founding Story and Addressing Altcoin Liquidity Tran educates Nathan on the market dynamics of 2014 to 2015, explaining how Bitcoin mining difficulty led to an explosion of altcoins and created massive liquidity friction on crypto exchanges.11:09–13:53 · Guest disagreement 1/10 Revenue Breakdown, Team Size, and ICO Plans Tran corrects Nathan's revenue assumptions by revealing high-margin mobile top-ups and gift vouchers earning 10-15%, which raises total monthly revenue to $50,000. Nathan then drills down on the upcoming ICO valuation and dilution targets.13:53–16:33 · Guest disagreement 0/10 Sponsor Message: HostGator Web Hosting Following a standard host sponsor read, Nathan conducts the rapid-fire Famous Five questionnaire in a friendly, conversational tone.16:33–17:30 · Guest disagreement 0/10 Episode Summary and Next Episode Preview Host monologue summarizing Uquid's core traction numbers and promoting upcoming podcast episodes.1:03–6:04 · Nathan pushing back 2/10 GetLatka SaaS Database Announcement Nathan breaks down Uquid's value proposition into simple consumer terms and calculates the exact transaction fees based on Tran's 0.5% fee structure. Tran collaboratively clarifies how the wallet deposits and card reload fees function.6:09–8:51 · Nathan pushing back 6/10 Transaction Volume Metrics and Growth Targets Nathan persistently presses Tran when the metrics get conflated between transaction counts, monthly rates, and annual dollar volume. Tran patiently works through the language barrier to deliver the exact GMV numbers.8:52–11:09 · Nathan pushing back 1/10 Founding Story and Addressing Altcoin Liquidity Tran educates Nathan on the market dynamics of 2014 to 2015, explaining how Bitcoin mining difficulty led to an explosion of altcoins and created massive liquidity friction on crypto exchanges.11:09–13:53 · Nathan pushing back 4/10 Revenue Breakdown, Team Size, and ICO Plans Tran corrects Nathan's revenue assumptions by revealing high-margin mobile top-ups and gift vouchers earning 10-15%, which raises total monthly revenue to $50,000. Nathan then drills down on the upcoming ICO valuation and dilution targets.13:53–16:33 · Nathan pushing back 0/10 Sponsor Message: HostGator Web Hosting Following a standard host sponsor read, Nathan conducts the rapid-fire Famous Five questionnaire in a friendly, conversational tone.16:33–17:30 · Nathan pushing back 0/10 Episode Summary and Next Episode Preview Host monologue summarizing Uquid's core traction numbers and promoting upcoming podcast episodes.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 95.7% · guest 4.3%0:00 · Nathan 95.7% · guest 4.3%3:00 · Nathan 41.8% · guest 58.2%3:00 · Nathan 41.8% · guest 58.2%6:00 · Nathan 53.5% · guest 46.5%6:00 · Nathan 53.5% · guest 46.5%9:00 · Nathan 19.5% · guest 80.5%9:00 · Nathan 19.5% · guest 80.5%12:00 · Nathan 50.5% · guest 49.5%12:00 · Nathan 50.5% · guest 49.5%15:00 · Nathan 68.5% · guest 31.5%15:00 · Nathan 68.5% · guest 31.5%
Sharpest disagreement ▶ 11:23 Tran reframes Nathan's low revenue calculation

Tran pushes back against Nathan's calculation of only $5k in revenue by explaining that mobile top-ups and voucher services yield substantially higher margins of 10% to 15%.

 Hardest push from Nathan ▶ 7:15 Nathan halts confusing annual figures to demand monthly volume

Nathan explicitly cuts through confusing multi-month and annual estimates to force Tran to state the exact single-month GMV projection for July.

 Biggest teaching moment ▶ 9:08 Tran outlines the macro shift from Bitcoin to altcoins

Tran provides deep domain knowledge on why altcoin holders faced severe off-ramping issues between 2014 and 2015, illustrating the exact market need Uquid was founded to solve.

 Nathan holds their own ▶ 12:38 Nathan instantly calculates net revenue from blended take rates

Nathan quickly translates Tran's 5% blended take rate on $1M GMV into an exact $50,000 top-line revenue figure to anchor the company's financial profile.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
GetLatka SaaS Database Announcement 5302 Nathan breaks down Uquid's value proposition into simple consumer terms and calculates the exact transaction fees based on Tran's 0.5% fee structure. Tran collaboratively clarifies how the wallet deposits and card reload fees function.
Transaction Volume Metrics and Growth Targets 5216 Nathan persistently presses Tran when the metrics get conflated between transaction counts, monthly rates, and annual dollar volume. Tran patiently works through the language barrier to deliver the exact GMV numbers.
Founding Story and Addressing Altcoin Liquidity 3601 Tran educates Nathan on the market dynamics of 2014 to 2015, explaining how Bitcoin mining difficulty led to an explosion of altcoins and created massive liquidity friction on crypto exchanges.
Revenue Breakdown, Team Size, and ICO Plans 5514 Tran corrects Nathan's revenue assumptions by revealing high-margin mobile top-ups and gift vouchers earning 10-15%, which raises total monthly revenue to $50,000. Nathan then drills down on the upcoming ICO valuation and dilution targets.
Sponsor Message: HostGator Web Hosting 1000 Following a standard host sponsor read, Nathan conducts the rapid-fire Famous Five questionnaire in a friendly, conversational tone.
Episode Summary and Next Episode Preview 0000 Host monologue summarizing Uquid's core traction numbers and promoting upcoming podcast episodes.

Statements from this episode (11)

Assertion Supported
Tran Hung: Uquid supports 79 cryptocurrencies on its debit card
“Firstly, we issue a debit card for OnCoin and, as you know, a 79 cryptocurrency we already support in our system, so our customer can get all the plastic card or the vital card, but with the Visa logo and spend for online or withdraw money.”
Tran Hung Sep 1, 2017 ▶ 2:59
Assertion Partly supported
Tran Hung: Uquid charges 0.5% to load wallet funds onto cards
“We're not charging any fee. We're using your market file, so you put in, it's totally free, but when you have money in your quick wallet, you want to load in your card, we charge you all .5% for charging fee.”
Tran Hung Sep 1, 2017 ▶ 5:15
Assertion Not checkable as stated
Tran: Uquid processed 1 million transactions in 2016
“Actually, last year, we totally, last year, we already just, we got, ah, one million transactions last year”
Tran Hung Sep 1, 2017 ▶ 6:10
Assertion Not checkable as stated
Tran: Uquid processed roughly $1.6M in volume in 2016
“I think about a million and 600.”
Tran Hung Sep 1, 2017 ▶ 7:28
Prediction Not checkable as stated
Tran: Uquid will process about $900K in volume in July 2017
“I think about 900 K.”
Tran Hung Sep 1, 2017 ▶ 8:37
Assertion Supported
Hung: Cryptocurrencies grew from approximately 67 in 2014 to over 400 in 2015
“On just 2014 as you know we on the market they only have a totally 6007 67 totally coin existing on the market it's like ethereum bitcoin litecoin ripple that's only 60 67 but only just one year after 2014 on 2015 The number already growing to, like, I remembe…”
Tran Hung Sep 1, 2017 ▶ 9:25
Assertion Partly supported
Tran Hung: Uquid charges 10% to 15% on crypto mobile top-ups
“We also have a different service like mobile top up, and we do support for customer top up mobile worldwide from under and 50 country. So we charge like from 10 to 15% on the money the customer using the coin for top up mobile.”
Tran Hung Sep 1, 2017 ▶ 11:23
Assertion Not checkable as stated
Tran: Uquid has a team of five people
“We have five people now.”
Tran Hung Sep 1, 2017 ▶ 12:58
Disclosure
Tran: Uquid plans to issue its own token next month
“Actually we are on planning, hopefully next month, we issue, ah, ah, our coin, so we also public to the customer can join our token.”
Tran Hung Sep 1, 2017 ▶ 13:12
Disclosure
Tran: Uquid aims to raise $4M to $5M in token sale
“I, I'm thinking about four or five million, but hopefully it could be, everything could be better than the amount I expect.”
Tran Hung Sep 1, 2017 ▶ 13:28
Disclosure
Tran Hung relies on Google Translate for Uquid customer support
“I using quite a lot of Google, Google translation. Yeah, support our customer.”
Tran Hung Sep 1, 2017 ▶ 15:30
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