Gold Bar Puzzle

Problem:
Youve got someone working for you for seven days and a gold bar to pay him. The
gold bar is segmented into seven connected pieces. You must give them a piece of
gold at the end of every day. What and where are the fewest number of cuts to the
bar of gold that will allow you to pay him 1/7th each day?

Solution:
Lets split the chain as,

Day 1: Give A (+1)

Day 2: Get back A, give B (-1, +2)
Day 3: Give A (+1)
Day 4:Get back A and B, give C (-2,-1,+4)
Day 5:Give A (+1)
Day 6:Get back A, give B (-1,+2)
Day 7:Give A (+1)

it is simple we know binary representation

decimal binary(b2,b1,b0)
11
2 10
3 11
4 100
5 101
6 110
7 111
where b0 = 1 gold coin
b1 = 2 gold coin
b3 = 4 gold coin
and binary(0 represents take it back, 1 represents give it to the worker)