this happens everytime I try to turn it on. Whats wrong with it?
Answer:
It has dry connections, caused most likely by the central heating or another form of warming your house. Don't worry, it is quite reversible! Just place your PS3 in a bucket of water overnight, and it will work fine in the morning, I did it, and the green light came on immediately!

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NO NO! Don't put it in water. Electronics and water do not mix well. I saw someguy on youtube took the hard drive out and it worked but it might be the YLOD. To fix YLOD if your ok with opening it and dont ahve a warranty here is a great tutorial on youtube.
http://www.youtube.com/user/gilksy1
its been YLOD or yellow ring of death, you can get it repaired free if you have warranty or from computter shop near you.
yeah me too happend lst night