THIS WILL VOID YOUR WARRANTY
Attention to those of you too impatient to wait until tomorrow (or whenever Sony actually solves this problem) to fix their Playstation 3′s by-now-notorious 8001050F error: our very own Joe the Tech has come up with a solution. Those techno-savvy enough to void their warranty can reset the PS3′s CMOS by unplugging the CMOS battery for 5-10 minutes. We’ve confirmed that this works at least on our PS3 down here at The Big’s corporate offices, and it really is that simple.
Now to the not-so-simple part. This fix involves dismantling your PS3 so that you can get to the underside of your motherboard. However, Sony (in their infinite wisdom) has actually made the PS3 relatively easy to dismantle (relative to the PS2, if you’re wondering). Remember to unplug your PS3 from the power source before continuing. Dismantling instructions can be found here.
You only need to go as far as being able to remove the motherboard assembly to get to the battery (on our model, anyways). Again, fair warning, THIS WILL VOID YOUR WARRANTY (if you still have one on your old PS3). This problem does not effect the newer PS3 Slim models.
Now, after you’ve removed the motherboard assemble and see the CMOS battery (it’s a standard 3.3v CR2032 battery inside of a green rubber casing with a red and a black wire coming out of it and leading to a plug), just go ahead and unplug the battery from the motherboard. You’ll need to wait a good 5-10 minutes (an hour if you want to be REALLY sure) for the capacitors to drain and for the CMOS to reset. After that, just plug the battery back in and reassemble the PS3.
After it’s reassembled, you can go ahead and hook it back up to your TV/Monitor. When you first start it up, you’ll be greeted with a Date/Time Set menu. Set it to the current date/time (or any time after 11:59pm 2/28/10), hit X, and you’re back up and running as though nothing happened.
The Big Critique and/or its parent company/shareholders can not be held responsible for any damage that may come to you or your PS3 as a result of following the instructions here. You perform this fix at your own risk.