If it's gonna be narrow anyway, certainly don't bother decrowning. I've done hunting weight bows from 4-5 species that were that small diameter a crown. But, 50" is pretty short. I'm with Badger: if you split it perfectly down the middle, splice it, and add a handle (or don't) 1" thick is still thick enough to do a lot with.
Besides splitting, on a stave that thick and that long it's possible to saw it in half with a LONG diagonal cut, then splicing what was the tip end and the butt end. This helps in preserving more thickness closer to the handle, and since tips are going to be thinner anyway....... but it is a pretty tough trick to pull off without your cut wandering (with a hand-saw or bandsaw), or requires a darn straight stave, with a tablesaw.