Right. You can stack False Cure and then Transcendence's "Lose the game" trigger and then lose the game. But your only chance to do it would be right here. The Transcendence's "Lose the game" trigger will not trigger again after this point because it is a state-trigger and won't trigger again until it has resolved.
410.11. Some triggered abilities trigger on a game state, such as a player controlling no permanents of a particular type, rather than triggering when an event occurs. These abilities trigger as soon as the game state matches the condition (even if it's not legal to play a spell or ability at that time). These are called state triggers. (Note that state triggers aren't the same as state-based effects.) A state-triggered ability doesn't trigger again until the pseudospell it created has resolved or been countered. Then, if the permanent with the ability is still in play and the game state still matches its trigger condition, the ability will trigger again.
Example: A permanent's ability reads, "When your hand is empty, draw a card." If its
controller plays the last card from his or her hand, the ability will trigger once and won't trigger again until it has resolved. If its controller plays a spell that reads "Discard your hand, then draw the same number of cards," the ability will trigger during the spell's resolution because the player's hand was momentarily empty.
If you don't end the loop at that point, you will never be able to end it.
EDIT: theorgg: Transcendence allows you to stay alive even though you have less than 1 life. It's not exactly relevant, but I pointed it out anyway.
(- Steve -)