I am trying to change the default payout and it doesn't seem to be taking, I set it for .1 and on the right pane it still shows the standard default and time frame. I tried setting it to the minimum, below default and the same thing. Left it there for a bit and it seems no pay out was initiated. If one were to want to withdraw all coins regardless of the amount, above minimum, how would they go about this?
Thanks for reading.
You don't initiate withdrawals, payments are made when blocks are found. If your balance is above the minimum then you get paid once your shares are in the front of the queue. If your coins are already above the minimum you don't need to do anything, payments are automatic.
Okay, so my full balance will be paid out once it reaches the front of queue.
Thank you!
Yes, and if for some reason you stop mining (move to another pool or whatever) then your full balance, even below the threshold (no matter how small) will be paid out to you in 6 or 7 days, IIRC. If you have any mining activity then this timer is reset.
If you are mining, once your balance gets above the threshold, you are added to the queue. The queue functions in the strict order of "time since last payout". You could set your threshold so that you are paid out daily, on average. (I think this is what most Eligius miners do, judging from my observations of the queue.) You could set your threshold so that you are paid out weekly, on average. There are trade-offs both ways. If you set your threshold low so that you get paid out daily (or even more frequently) then you could easily find yourself at the bottom of the queue, behind 25 blocks' worth of payouts, every time you hit your threshold; so it could take 6-12 hours to get paid out once you hit your threshold. If you set your threshold high enough that you get paid out weekly, you will usually find yourself at the very top of the queue once you hit your threshold, and you should be paid out within an hour or two.