$迅雷(XNET)$ SummaryXunlei's share price has quadrupled over the last month with the launch of OneCloud devices which produce OneCoins.According to XNET management, OneCoins are not currency. They can however be exchanged for items of value or substituted for Yuan. So, how are they not currency?XNET cannot state they are currency as it will invite serious regulatory risk and the prospect of immediate shutdown by Chinese authorities. However, this risk remains and is sizeable.转发的,供参考。Even if XNET's OneCoin is not shutdown, its business model appears suspect, and a lack of profit makes this a strong short.A short-term downside of 30-50% and a long-term downside of up to 66% can be expected.