We’ve mentioned it several times before, but looking at the amount of emails we’ve received about this matter, it is worth reiterating that anyone with a jailbroken device should stay away from the newly released iOS 7.1. If you update to iOS 7.1, you will lose your jailbreak. At this time, there is no indication that evasi0n7 will be updated for iOS 7.1, quite the opposite.
Jailbreakers stay away from today's iOS 7.1! Once you go up you can't downgrade again even with SHSH blobs (except i4).
— Ⓜ MuscleNerd (@MuscleNerd) March 10, 2014
Obviously, if you do not care about your jailbreak, you are free to update to iOS 7.1. If you choose to do so, you will have to plug your iPhone in iTunes as evasi0n7 disables OTA updates by default.
You’ve been warned. Now it’s your responsibility to make the decision: is iOS 7.1 worth losing your jailbreak? You tell me.