It looks like all your roots are dead. Except maybe for the one fat one. All the stringy ones have died and what you have left is the inner core. The velamen has died and has fallen off. I would stay away from the miracle grow orchid potting mix like the other members have said. It is just too soil like and holds too much water and doesn't allow air to the roots. It's too bad miracle grow sells that mix as orchid mix. Since the brand has a good reputation for its potting soil, new orchid growers assume it is a good choice because it says it's for orchids and well it's miracle grow so it must be a good medium. They really should remake a better mix for orchids. Allthough some people have used it for some orchids and have done well with it, but I wouldn't recomend it for someone just starting out. Your plants leaves are very wrinkly and are very dehydrated because of the root rot. It probably started to put out a spike because it knew it was dying and it was trying its last attempt at producing future generations. It's called the death spike. That is what some people call it anyway. I too think you should just buy a new one. Don't worry, killing orchids kind of comes with growing them. Especially when you first start out. I know I lost a lot in the begging and I still do lose some now and then. I have been growing orchids for 11 years and I still have a lot to learn. Good luck and now you have an excuse to go out and buy some new orchids!