That’s a really good question, I think the link remains the same when you copy paste something - for example links to frames, they will not be updated. 

@photosynthesize - When you upload any file to a Miro, it is “embedded” in the board and there is no longer connection to the file on your local computer. More technically, the file is stored on Miro’s server and linked to in the board.

If you have a paid/Education Plan and download the board as a .rtb file and open the .rtb with a compression program like 7-Zip, you will see a number of .json files (that make up the actual board), as well as any files you have added/uploaded to the board, e.g.:

@Robert Johnson great, thanks for clarifying, this answers my question. :)