Hi there! I'm an italian guy, so sorry for my BAD english! My 80gb ps3 stopped working, but this is the intersting part: unlike the classic red bliking light problem, where the PS3 turned on for a few seconds with the green light, and then turned off and the red light started to blink, in my case the red light starts to blink as soon as I switch on the button on the back of the PS3!
I never seen anything like this, and I don't know the cause!
This is a video when I show my red blinking light:
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