Quote from: merlin3650 on October 26, 2013, 06:57:55 PM

Maybe I'm not asking it correctly. Lets review:

Bitcoin are stored in a wallet and that wallet needs a bitcoin address: Correct?

Any bitcoin that are bought/Sold/Traded are recorded in the blockchain: Correct?

Any transaction (bought/sold/traded) needs to be verified by others using the blockchain: correct?

So my question is how can coin be moved to a private address if it cant be verified since the address was made offline?

No: Bitcoin exist on the blockchain. A wallet simply stores the keys needed to authorise a transaction moving that coin to another address. You can import the keys into multiple wallets, any of which can then spend that coin (but only one spend, ever).

Yes

Yes

Finally: Bitcoin is moved via a transaction in which the "owner" authorises the transfer by signing with the private key associated with the address. The destination address merely needs to exist, there is no requirement for its private key to be known. The transferred bitcoin will remain at the new address until another transaction is signed using a valid private key. If the private key is lost (or was never known in the first place since destination addresses can be created without knowing the private key, eg 1BitcoinEaterAddressDontSendf59kuE), then the bitcoin is unspendable, lost for eternity.