First up, please excuse me if my question has been answered elsewhere; I couldn't find an easy answer by searching.
I've followed the directions to securely generate, print and store a paper wallet, but there are some things I haven't quite been able to wrap my head around yet.
I have an online wallet with blockchain.info, and I have discovered I can manually input a wallet address and private key. I have also discovered that I could delete a wallet with bitcoins in it (0.005 to be exact), and as long as I still had the address and private key stored elsewhere I could re-input them and the bitcoins would still be there. I wanted to test if I could do this so I could protect myself against someone hacking into my blockchain account and stealing my bitcoins; in other words just use blockchain like a gateway, instead of leaving my populated information on their system.
My question is, if I want to receive payment from someone, can I give them one of the wallet addresses from my piece of paper which I have never used or entered into blockchain? If they send a payment, will I be able to input the wallet/key details at some point in the future and the bitcoins will be identified and show up?
From what I understand I believe this to be correct, but please help me out with some piece of mind
Also, how on earth does the website search through what must be millions of bitcoins so quickly to identify which ones belong to your wallet?
Thanks for your advice.