It's not dangerous, it's legal, but it would void the warranty.
If its on 3.1.3 then use "Spirit" to jailbreak it
Simple answer: Yes.Only update when the Jailbreak you use has a new version / then only update the Jailbreak, not the iPod/iPhone.
You need to use the program RedSnOw to jailbreak an iPhone 5.
You need to use the program RedSnOw to jailbreak an iPhone 5.
You can use a new jailbreak called "spirit jailbreak". Google it. alternativley you can downgrade your firmware to 3.1.2, then use Blackra1n.
yes you can you use green poison rc6 for untethered jailbreak.
You can't use it yet as the iPod/iPhone/iPad firmware 4.2.1 has not yet been released on jailbreak me. However, there is a tethered version of the jailbreak on redsn0w but needs an extra program for rebooting your idevice.
you use spirit. search spirit jailbreak on google and you should find it.
No, use redsn0w.
U can use blackra1n to jailbreak ur ipod touch if ur on 3.1.2, if ur on 3.1.3 then use "Spirit"
You can use several tools to do this. Just google "iPod Touch 4th gen jailbreak" to find one that suits your needs