Want to go 50 mph on a bicycle ? Get a real good road bike and find a good hill !
This is exactly why the experts of this forum have as little to contribute as the 'noob, I wanna go 50 mph' folks.
The only people that should consider making an ebike that goes 50mph, are those that have already ridden a pedal bike that goes 50 mph. A road bike, even a good one, is a terrible bike to design a 50mph eBike around. Now, I am no expert on eBikes, but I have done "50 mph" MTB races, and only a true DH bike is designed to both handle 50 mph speed, and has the lateral torque and strength to get you there safely. Try to find one that is pedal friendly, but in reality it doesn't really matter, since at 50mph, you will need a sustained 2000-3000W. As you can see from this chart: http://www.americanroadcycling.org/articles/PSL/WiddersHump/WattsSpeed.htm the wattage required is non-linear.
From 0-20mph takes just 180 watts, from 20-25 takes 300 watts for just 5 mph more. With a heavier, inefficiently pedaling bike and drivetrain, the pedal effort will be high and the gains negligible. Since a trained cyclist (I used to have a VO2 max of 72, so I know what a trained cyclist is) has output in the 300W range, and most engineers here are probably going to be clutching their chest at anything over 80 watts sustained, pedaling a 50mph bike will not get you much.
THE MINIMUM YOU WILL WANT
1. A quality new DH frame (a used DH frame is a bad idea, unless you know its history): cost $2-3,000 (frame only)
2. A quality DH fork. Single crown 180mm Marzocchi 66 (or Fox 36, Rockshox Totem), or better a dual crown 200mm Fox 40, Rockshox Boxxer, or similar: Cost $1,500-$2,000
3. A quality DH wheelset designed for 2.5" tires: cost $500-1000
4. 2.5 tires designed for abuse, and appropriate for the street, these need to be in the 1200-1500g range per tire, with DH tubes. The only tire I know of is the Maxxis Hookworm: http://www.maxxis.com/bicycle/urban/hookworm.aspx
5. Decent 8" hydraulic disc brakes: Saint, Hope, Magura, Avid: cost $400
6. Aerodynamic fairing, carbon fiber preferred: cost $200-$1000, and a ton of labor
7. Personal motorcycle level protection, DOT helmet and EN CE "Level 2" protection:cost $500-1,500 http://www.cdc.gov/features/motorcyclesafety/ http://en.wikipedia.org/wiki/Motorcycle_armor
8. Now you get to add the costs of the rest of the bike components and...
9. add the cost of the motor, batteries, controllers, and chargers
Every MTB downhiller knows that the entry price is around $5-6,000 if you want to start riding DH. Adding the aerodynamics, custom design, and eBike goodness will run several more thousand.
An appropriate bike will weigh 40 lbs, plus 10 lbs for aero and accessories, plus 20 pounds (est) of batteries and motor. You are easily looking at a 100lb bike. And as such it will be stable and safe at 50mph, for about 15 minutes.