No. it can not hurt the baby but as you get further along it may start to rip your skin. I recommend getting a pregnancy ring.
Nope. It Will probably start to get uncomfortable, mine did. I ordered a pregnancy one from bodycandy. I'm now almost 34 weeks and have been able to keep it in.
I kept mine in till I was about 23 weeks and it started getting uncomfortable. So I just put my ring through it like every other day to keep the hole open
Just get a pregnancy belly ring :)