SpainCoin basically took the idea of AuroraCoin, but changed the country to which the 50% pre-mine will be distributed.
As was the case with AuroraCoin, SpainCoin is also suffering from the “horribly unreliable mining pools” syndrome, as a lot of the pools claim to have “DDoS” issues.
Between you and me, these pools are most likely hosted on a crappy VPS and can’t handle the amount of connections through the Stratum protocol.
Don’t get me wrong, I know I can’t provide a decent mining pool either, but at least I’m not doing an half-assed job. But that’s all beside the point.
SpainCoin is currently trading for nearly 0.01 Bitcoin each on the MintPal exchange. This price will most likely climb over the next few hours, and might end up near the Litecoin value.