Have you heard about or experienced any problems with the Playstaion Network if you have a fat PS3? Well, your not the only one. Since last night, PSN has been suffering what is being called the dreaded Error: 8001050F. A statement from Sony has said that they hope to fix the problem in 24 hours. It is highly reccomended you do not use PSN if you have a fat PS3. Sony also said that it seems to have been caused by a clock error and you are unable to reset the clock and sign into your account. Here is part of the statement from Sony regarding the issue.

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.

You can check out more updates on the Network error over at the Playstaion Blog. [Update: Although it appears that looking at some comments the Network seems to be working properly now, so you shouldn't have a problem. ]