Was just wondering if I hook up my backwards compatible ps3 for online for the first time will it lose it's backwards compatibility?

No.

No.

Thanks would really hate to lose that feature

@wolfmeng88: Since you said "first time," I'm wondering if doing so a subsequent time will carry the same results.

@antpatcan: I wouldn't know this is my first ps3 I normally play my 360 but most of my friends are on ps3.