Sounds like you need a new laser mate..
Cheap to buy and easy to fix.

Try taking out the cd then putting it back in a few times


Sent from my iPhone using NGU

And how is this going to sort out the problem that it WON'T READ DISC'S.
It needs a new laser and it will cost around £10 or 15$ depending where they are.

try cleaning the laser first

Turn off your system clean your disk with a slight drop of water, once your at the main menu (PS3home) simply inject the disk and wait for it.

If this didnt work then you may consider buying a new disk, or try out another game disk to be sure.

All for we know it may be your PS3 itself.

We'll sorry mr tough guy just trying to help

I ain't a being a tough guy, I was just stating a fact. I just can't possibly see how this method of yours will get the console reading discs.
I had the same problems with one of my old consoles and it was the laser that needed replacing.