Error Code 8001050F occurs in Playstation 3 and caused by an issue with the internal clock of your Playstation 3 hardware which causes you to be signed out of the Playstation Network.
A bug has caused the internal clock of your Playstation 3 to be set to January 1, 2000.
According to Sony, unless you own a PS3 Slim system, do not use or start your PS3 system until a fix is found, which should be within 24 hours of March 1, 2010.
If you use your PS3 before the fix is released, you may risk losing trophy data and other game data which will not be able to be recovered.
PS3 Slim systems are not affected.
There is nothing you can do for now. Please check back for updates. They will be posted as they become available.