This would be correct if the fold was perfect but I thought that when paper is folded the fold took the form of a semi circle at the ends and the layers do not sit perfectly on top of each other.
Certainly mathematicians refer to the 'loss function' (
http://www.its.caltech.edu/~ari/paper-folding. html)
which impacts on the minimum size of the original sheet needed to achieve a given number of folds. So my question for you, magicmerlin, is how big would the original sheet have to be in order to achieve 50 folds?