Oops, looks like someones messed up big. Reports flooded in over night of PS3 owners not being able to use their PS3s for gaming, or access the PSN.
Sony reports that they are looking into the problem, but users aren’t too happy, because the error they’re experiencing (8001050F) is causing game crashes, corrupted trophy info, and the inability to launch certain titles. This is similar to the midnight lockdown of all the Zunes quite a while ago.
However, Blu-Ray functions are not affected, and the newer PS3 slims are looking just dandy.
UPDATE: Sony says they’ve fixed the issue. Resume the gaming!