The holy grail of molecular electronics is the miniaturization of electronic circuits through replacing circuit components with single molecules with similar functions. After the insightful lecture of Richard Feynman, "There is plenty of room at the bottom", Aviram and Ratner introduced the first examples of molecular devices, molecular diodes. In subsequent years, various molecular devices starting from simple wires, rectifiers, and switches to more complicated transistors and memristors have been proposed, fabricated, and some even commercialized. So far the general trend in molecular electronics has been replicating macroscopic circuit components on a nanoscale level. However, molecular electronics can do better. Here, we use in silico multiscale modeling to devise the first example of a molecular circuit component, that so far has no equivalent in the macroscopic world; we coin it spinristor. The spinristor is a circuit component that combines the functions of a memristor and a spinfilter. Alternatively, considering the memristor as a combination of a resistor/switch and a rectifier as proposed by Abraham, the spinristor can be defined as a circuit component combining the functionality of a switch, a rectifier, and a spin-filter.