Preheat oven to 200 degrees F.
Pop popcorn using the Whirly Pop (I highly recommend) or in pan on stovetop. Alternately you could use about 10 to 15 cups of popped popcorn. Place popcorn in a very large bowl or two medium bowls.
Over a saucepan simmering with 1 inch of water, place bowl with chopped white chocolate and 1 tablespoon butter. Stir until melted.
Pour over white chocolate over popcorn and immediately toss popcorn with two wooden spoons or hands covered with heat proof gloves.
Add in chile powder and salt and toss again. Dump onto lined baking sheet and bake for about half an hour until nice and crisp.