The entire top piece in the picture is a big terminal strip.
You loosen those screws in the top & there is a small hole on the side where you would insert the wire, then you just tighten the screw back down to hold the wire in place.
You're not supposed to solder so connections like these. They are made as an alternative to soldering connections.
I'm assuming you only need 11 inputs for your project right? Becasue that's all that "encoder" gives you. 1 ground & 11 inputs. It would be a great encoder for a small classic CP... (joy + 4 buttons + 1P + 2P + coin, make "5" insert coins for P1 & P2 if you really want...)
good luck!
Okay, that makes sense, I can't believe I didn't realize that

. Thank you guys for the help. And yes, I only need a small amount of inputs, it's for a vertical bartop control panel. I'll only need like 7 inputs. I would have went for a keyboard hack, but this was easier, looks cleaner, and was pretty cheap.
I feel kind of stupid, I was able to sucessfully hack 2 gravis gamepad pro's(gameport style) with no help from anybody, and pretty easily, but yet I get confused by something as simple as this,
