How to jailbreak an ipod touch?

How can I jailbreak my iPod Touch?

• I have an iPod Touch, 4th generation with iOS 4.2.1. I want to jailbreak my iPod b/c I am sick and tired of Apple. And I want free stuff. But from what I've heard, my version of iOS is too recent. Do I have to downgrade my version and how? How exactly do I jailbreak an iPod? Could someone give my steps by steps? Is it safe? What else do I need to know before jailbreaking? Does it really void my warranty ( not too worried about that )? What do I need to jailbreak? What will be my new features if I jailbreak? Any other info and help is appreciated! :D

• Answer:

  My friend told me about Green P0is0n, but I did that jailbreak with iOS 4.1, but it should work with 4.2.1 as well. At that point, Jailbreak Me, Black Ra1n, and other stuff like that didn't work, and Green P0is0n is made to work with recent iOS's. If that doesn't work, go to youtube.com/tysiphonehelp, or search on youtube TysiPhoneHelp. He's a nerd with everything about jailbreaking. Oh btw, I personally don't like jailbreaking my iPod, because it messes with stuff and eventually can mess up your whole device because the stuff you download isn't always virus-free. Also, Redsn0w was also shown to work as well. So if the other ones don't work, RedSn0w should be your last attempt, and should most likely work. If it doesn't, I think it's impossible to downgrade your iOS, unless you get the firmware file, which is very difficult to do. One more thing, Jailbreaking is not illegal, it was just legalized somehow, so no worries, it's legal.