I heard Modchips ruin game console lasers Is this true?
No this is untrue. Poor quality media burnt at high speeds can and will place unnecessary strain upon a consoles lasers and lead to a premature end of its operational life. Ensure you only use decent quality branded media burnt at low speeds ( 4x for CDR and 1x for DVD-R) to avoid any problems. Lasers are also static sensitive so the necessary precautions should be taken (wrist band and GND points etc) whilst installing a modchip device.