(adsbygoogle = window.adsbygoogle || []).push({}); I got my PS3 literally this morning and i had to do the update (4.76). is there already a way to jailbreak that or do i have to wait?

You need to downgrade to 3.55 to jailbreak. Then install a CFW and a 4.76 spoof to go online.

I can do that for this new Update/ if so can you please link me a video or something that will show me how to downgrade

You need a hardware flasher. E3 flasher is the most popular ps3 nor flasher. The downside is it only works for some models..

There is NO way to jailbreak a PS3 that is over the 3.55 update. If you would like to jailbreak your PS3, you can use this update file You must login or register to view this content. to see what the minimum update that you can install on your PS3 is. If your PS3 can go to the firmware 3.55 or under, you can buy an E3 Flasher or send your PS3 away to someone doing a downgrading service.

Ok thank you, i will try installing those files right now

It says i can install version 1.97 or later. so what do i do now?

You can either buy an E3 Flasher off eBay, or you can send your PS3 to someone doing a downgrading service.

Is that the only way?

yes it is