Is the PS4 backwards compatible?

Hey guys I just wanted to ask those who have bought the PS4 whether it can play games from previous generations like the PS3 and if so whether there are any restrictions?

NO is the answer. not one game, if you want to play ps3 games you need a ps3. ps4 will have gaikai an online streaming system which they say will stream there whole backlog catalog in the end, not sure how this will work but thats the plan

Where have you been hiding this year?