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Physical money (coins or paper-bills).

5 votes

If I buy a bitcoin in USD who gets the cash?

So when you buy a bitcoin with cash, you are buying it from someone who owned it but initially it was obtained from a miner. …
Stephen Gornick's user avatar
2 votes

How to get Bitcoins without having a bank account?

http://en.bitcoin.it/wiki/Buying_bitcoins You can even send cash in the mail. BitcoinNordic in Denmark accepts cash (USD, EUR, GPB, and more) in the mail, as do a handful of others. … Meeting up with someone and doing an in-person cash trade might work as well: http://www.LocalBitcoins.com …
Stephen Gornick's user avatar
3 votes
Accepted

Are there any legal implications when using localbitcoins.com?

FinCEN has asserted that the conversion of bitcoins to and from cash (or other substitutes for value) is transmission of money. …
Stephen Gornick's user avatar