Verified answer

If you do this and get caught they will ban your system.

Retail outlets will get sued from sony for jailbreaking ps3 considering the fact that it is illigal, mainly folks have to do it them selves, should you get caught sony will ban your account and switch your console right into a brick so that you can't play on-line anymore with that console, and sony adds updates now and again and that's when they investigate is when you update. That you can still play multiplayer video games but is it worth gettin caught and buying one other ps3 simply to jailbreak it, i consider not.

Everyone speak for yourself god damnit. I have 2 PS3, one is modded and the other is non-modded. A modded PS3 can play online if you get it "hard-modded" which is a built in chip to the system. Just don't do anything stupid though that will reveal that your system is modded. I have a hard modded PS3 and it works fine online, I have never been caught or banned. Try to stay away from "soft-modding" as it usually is a unsecure way of modding and it is highly possible you can get caught. Good luck!

You can but good luck in finding a LEGIT ps3 jailbreak they're all FAKE!

I've tried lots and they don't work because there's a password

It's up to you but be warned that if you do you lose all rights to a warranty and you will not be able to go online with your PS3. If you go online with a jailbroken one it will cease to work.

LOL ILLEGAL