Why is my xbox 360 power botten blinking green

Hey Juan, this issue you are experiencing could be one of a few things (I'm sorry for how long my response is).

The flashing power button could indicate that your Xbox is downloading updates in the back ground. If this isn't the case, it means you most likely have a disk drive problem. This problem can be resolved in one of a few ways. If still under warranty, just send it back in. If its not you can do one of two things. You can attempt to fix the disk drive (pretty tricky if you are electronic/mechanically inexperienced) or just replace the disk drive. Sadly the replacement solution isn't 100% straight forward. In every xbox 360, the mother board and disk drive are "married" together via a key. This key has to match, for the drive to work. The work around to this is, you can buy any disk drive you want and flash it. Or you can track down the exact same model etc, disk drive that is in your xbox, and swap the control boards, leaving the new drive with the old control board and key (you can find videos of this on youtube). The other option is flashing the disk drive (this option will let you choose any compatible drive you want).

This tear-down will help removing the drive;

Xbox 360 S Optical Drive Replacement

This link helps with the flashing option;

http://www.se7ensins.com/forums/threads/...

and this link just goes a little more in depth then I have, if you are interested;

http://gaming.stackexchange.com/question...

If you have any questions or problems, feel free to ask. Hope this helps you out.