I ran my Mi box for about 3 weeks, and it suddenly wouldn't even play a youtube video, i thought for a moment, and searched for the cache. It immediately started working again. I just thought other might want to know, in case their system seems to be slowing down.
Seems to me like the Mi Box was released without being completely ready. One shouldn't need to immediately do a full factory data reset (possibly multiple times) to get it to function right, or periodically delve into the menu system to clear the cache. Hopefully Xiaomi is working on a system update that will rectify all these problems and make them "just work".