How it works:
The capacitor is charging trought R1. When its voltage arrive to about 10V (it depends a bit of the used transistor, can be 7..11V), the transistor begins to conduct (like a diac) making the capacitor discharging trought the LED. After that the cycle restarts.
12V version:
R1 - 3.3 Kohm
D1 - diode 20V (needed only for AC)
230V version:
R1 - 100 Kohm / 350V
D1 - diode 350V
Note: The LED can be of any colour, but avoid RED (its voltage is too low and the LED will not have a long life, obviously you can put two red LEDs in serie). I guess that blue LED would be ideal..
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