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My 60gb fat PS3 I've had since March 07 has YLOD now. Is there any place that would buy this for like 20 bucks or should I just smash it with a hammer?
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Nah, throw it on a local trader magazine/Craigslist equivalent. Tons of people will give ya some coin for the parts.
Nuke the HDD, though, lest you have someone else get your info.
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Did you install the latest update? If so save it and Sony will probably fix it free because the latest update is apparently bricking people left and right.
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Wait, that's what happened to me?!?!