iPhone (and PS3) hacker Geohot has been showing off his freshly jailbroken iPhone 4, but he also apparently has no plans on releasing it. So far the bulk of the jailbreak work has been done by the iPhone Dev Team; Geohot - or George Hotz as he goes in real life - says his reasoning for not releasing the jailbreak isn't technical but motivational, since he believes users will then simply move on to demanding the next step in the unlock chain.
Speculation began recently that Geohot had been working on a jailbreak of his own for the fourth-gen iPhone when a new site - called limera1n - was spotted. However, Hotz says the page is "little more than a raindrop on a website" and that "as far as a release goes, it probably won't happen from me."
That leaves the always-reliable iPhone Dev Team, who have confirmed that they're working on both jailbreak and unlock solutions for the iPhone 4. No timescale for their release, however, and recently we heard that Apple might be preparing a new iOS4 patch that would attempt to address loopholes that could be used in the jailbreaking process.