Do you own iOS 7.0.4 Jailbroken device? Then DON’T update to iOS 7.1 to stay with the Jailbreak. Apple recently announced iOS 7.1 for testing purpose, which has patched up Jailbreak iOS 7 (7.0.4, 7.0.3). It means, the update will close the restore window on iOS 7.0.4. In case if you have to restore the device on iOS 7.0.4, then you will be stuck without Jailbreak, until one is released.
If you are using Jailbreak on iOS 7.0.4, then do not update at all. Do not restore your device on iOS 7.0.4, as this will force update to iOS 7.1 (except older devices that can make use of redsnow to restore older firmware). In case, if your device running jailbroken iOS 7.0.4 did not boot, before restoring, you may try holding the volume up button while booting to put the device forcefully into safe mode. This may get your device back to the working state without updating to iOS 7.1 and saving your jailbreak as well.
The owners of iPhone 5S, 5C or iPad Air, Mini 2 running iOS 7.0.4 will not be able to update to iOS 7.1, so you have saved your Jailbreak by default.
Via Evad3rs site.