PS3 Error: 8001050F Caused By Clock Bug, Fix Within 24 Hours [PS3]

Statement from Sony regarding 8001050F error. Bottom line, if you have a fat PS3, do not use it for 24 hours. The news came in Sony's first comprehensive statement about the error plaguing PS3s worldwide.

As you may be aware, some customers have been unable to connect to the PlayStation Network today. This problem affects the models other than the new slim PS3.
We believe we have identified that this problem is being caused by a bug in the clock functionality incorporated in the system.
Errors include:
* The date of the PS3 system may be re-set to Jan 1, 2000.
* When the user tries to sign-in to the PlayStation Network, the following message appears on the screen; "An error has occurred. You have been signed out of PlayStation Network (8001050F)".
* When the user tries to launch a game, the following error message appears on the screen and the trophy data may disappear; "Failed to install trophies. Please exit your game."
* When the user tries to set the time and date of the system via the Internet, the following message appears on the screen; "The current date and time could not be obtained. (8001050F)"
* Users are not able to playback certain rental video downloaded from the PlayStation Store before the expiration date.
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.
As mentioned above, Please be advised that the new slim PS3 is not affected with this error. We are doing our best to resolve the issue and do apologize for any inconvenience caused.
For the latest status on this situation please check either the PlayStation blog (blog.us.playstation.com) or PlayStation.com.
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