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I was streaming The Shield (using the PS3 media server) for 13 straight hours (yes it's THAT good of a show) the other day and to my surprise my PS3 Randomly shut off. I turned it back on, only for it to shut off once again after only 10 minutes. Starting to panic, I turned it on yet again, only this time it beeped a few times then started frantically flashing RED non-stop. It’s my own fault really, to not take more care of my Original Launch 60gb PS3.

 It was after midnight on a Friday when my PS3 knocked out so there wasn’t anyone I could call or send for repair. So I tried my luck on the internet, to see if anyone else had a similar problem and have found a way to fix this red light on a PS3.
 My first conclusion after some readings were Thank Goodness It’s Not YLOD (Yellow Light Of Death). From the way other users have described their problems (and solutions), it is a much bigger baby to handle. As for mine, it was probably more of a overheating issue.

So for the benefit of future ‘victims’ of Blinking Red Lights, I’ve put together quick-fixs and solutions I’ve come across during my search. 

 Checked your cables yet?
 Ok here we go:

- PLENTY OF REST. Muster some patience and don’t touch your PS3 for the next few hours (or overnight, preferably). Let it cool and try again and see if the red light comes back on again.

 - NEW FAN. Either you replace the old one with a stronger, better fan if it’s faulty or get an additional pad/fan on the outside.

 -FIND A BETTER SPOT. Meaning, if you know you’re a heavy user, make sure your PS3 gets plenty of airflow and breathing space. Make sure you don’t feel an oven forming around your PS3… which will definitely lead to another series of blinking red lights that you need to repair again! And No Carpets!

 -OPEN IT UP! DUST your PS3 with a mini vacuum… too much dust ruins the ventilation on the insides and traps the heat.

 - Play around with the HARD DRIVE. 
·        Take your hard disk out and boot the PS3, 
·        Then turn it off and put the hard disk back, 
·        Re-boot again. 

 If it doesn’t fix the red light try an extra step: 
·        Take your hard disk out, 
·        Turn it on to get the game out, 
·        Put the hard disk back into PS3, 
·        Turn on. DO IT A FEW TIMES.
·        If the blinking red light is still not fixed, it’s possibly a general hardware problem. 

 1 - If you send it to sony, they will send you a new (refurbished) replacement for $150 (min) BUT all your game saves and anything on the hard-drive is GONZO

 2 - Expect to be charged anywhere from $30 - $149 at a repair shop (make sure they have a history of fixing this problem)

 3 - If you want to save yourself money, and feel confident enough to repair the PS3 yourself (you can do it!!!) then check out this guys you tube video - USER NAME: "scoeas1982" - (that is NOT my account, and it is NOT me in the video) The videos are incredibly detailed, and it WILL help you to fix the problem yourself. 

I hope this was of help you
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