Why is it that some of us see this thing as a true - to use OP's word - transcendence, while others see it as an impossible and laughable scam with no value? It's as if we've stumbled upon the first printing press sitting alone in a meadow, and as we marvel at the possibilities of such an apparatus we're incessantly distracted by other onlookers who, noting that nobody uses such a thing, endeavor to condemn and deride our exuberance.
I think some of us will be looking back quite fondly on the work we're doing right now.
A fun look back...
http://technologizer.com/2009/11/23/windows-laptops-theyll-never-catch-onFrom the article and would make a great signature line for somebody here:
Its always a mistake to think you know where the hell technology is going to take us.
Trying to define bitcoin in fiat economic terms is like trying to fit a tesseract in round hole.
After reading your post, I had to double check to see if I was mistaken, and psy was the author.

Excellent post, edd!