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Yes haha any iphone software at this moment is jailbreakable.. I can teach you if you need im a jailbreak expert lol.

 

Currently, you can only jailbreak iOS 5.1 tethered. Meaning that if you turn your phone off, you'll need to plug it back in and jailbreak it again.

Here's the guide on how to do it with RedSn0w; http://www.jailbreaknation.com/jail...n-iphone-ipod-touch-ipad-4th-gen-with-redsn0w

 

Yes you will. If you have any other questions hit me with a PM or just reply.

Also it is possible to jailbreak the iPhone 4 untethered. Meaning you do not have to keep jailbreaking each time you switch it off.

Tutorial:

http://www.youtube.com/watch?v=bCgY...d=2vEA4lKtgRI&annotation_id=annotation_407290