Originally posted by HelpMeDowngrade
My ps3 want turn on, it does green light then 2 secs later instant yellow then blinks red fast. It happened in the middle of downgrading a fat boy 80gb . (nor)
Your ps3 has YLOD (yellow light of death)
New thermal paste can work as a fix but more times then others it will be the solder between your GPU/CPU chips breaking down causing them to loose contact with your mobo.
Some people offer a "reball" service and they will solder them back up for you.