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July 31, 2017, 03:14:50 AM |
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When you "send btc" you sign a transaction with the btc you own as input, and the output(s) contain the script with the public key (destination address) corresponding to the private key to spend it.
This transaction is then sent to the network, and added to the memory pool to be mined in the next block.
When the next block is mined, it will be propagated to other nodes, and the bitcoin can be spent using the private key corresponding to the public key in the output script.
The btc are not localized specially anywhere, but all node keep track of all the spendable bitcoin associated with the script to spend it which contain the public key, or the hash of the public key.
Anyone who own the private key associated with the public key in the script can then spend those btc.
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