If you are an owner of older generation PS3 and or have a 8001050F error please read the article below.
http://ps3.ign.com/articles/107/1073007p1.html
http://ps3.ign.com/articles/107/1073007p1.html
Patrick Seybold, Senior Director of Corporate Communication and Social Media, has posted additional information regarding the issue on the PlayStation Blog.
"We believe we have identified that this problem is being caused by a bug in the clock functionality incorporated in the system," writes Seybold. "We hope to resolve this problem within the next 24 hours. In the meantime, if you have a model other than the new slim PS3, we advise that you do not use your PS3 system, as doing so may result in errors in some functionality, such as recording obtained trophies, and not being able to restore certain data."
http://www.joystiq.com/2010/03/01/ps3-clock-bug-apparently-squashed-games-are-playable/We've apparently made it through the worst of the storm, friends. We've received a number of tips informing us that the internal clock bug which has been plaguing systems for the past 24 hours had been fixed, rendering all games playable once more. We tempted fate shortly after receiving these reports by testing out a few of our PS3 Phat units, and can confirm that they're running games just fine.
The extent of the damage incurred during the blackout is unknown, but will certainly surface in the next few hours. No Joystiq staffers lost any of their hard-earned trophy data, but we're an awfully small sample group for a problem that affected every living being on Earth.