(8001050f)

Error: 8001050F Takes Down PlayStation Network
Many pre-Slim PlayStation 3 owners are experiencing error 8001050F on their consoles and it's preventing players from logging into the PlayStation Network plus improperly displaying or corrupting trophy data.

Sony has posted on their Twitter page stating that 120GB and 250GB Slim models are working correctly and they are looking into the situation. Users who have converged at the NeoGAF forums theorize the error is due to the PS3's internal clock having a leap year-related bug and are advising everyone to not use the console for at least 24 hours in the hope that the problem fixes itself.

We'll update when any significant developments arise. Definitely keep an eye on that Twitter page as well.