News: It only does... nothing apparently.
UPDATE: Service has been restored to the PlayStation Network and
your PS3 should be operational once again.
Sony has acknowledged (via the
PlayStation.Blog) that something very bad is currently happening to the PlayStation Network right now.
It seems that a problem with Trophy synchronization over the PlayStation Network (error code 8001050F) has rendered single-player games with Trophy support unplayable. Users who receive this error will also be unable to connect to the PlayStation Network, which means no multiplayer games, no PlayStation Store and no BD-Live features on your Blu-ray discs.
According to Sony, this glitch is not affecting owners of the 120 GB or 250 GB PS3 Slim model.
Social Media Manager Jeff Rubenstein has also confirmed they are working on a fix for the problem:
Know that we have narrowed down the issue and have engineers working to restore service even as you read this. We apologize for any inconvenience this may cause you, and genuinely appreciate your patience while we work to resolve this.
Up-to-the-second updates on the Network's status will be available at the official PlayStation
Twitter feed.
We'll have more soon.