Guys im thinking to jailbreak my iphone 5?

I think 6.1.4 probably has a better chance an official untethered jailbreak, as it is older and they worked on it already probably. You will lose your warranty if you jailbreak. Jailbreaking is not illegal, apple just doesn't like it because you get root access to everything. You get jailbreak apps, you can customize a lot more, you can get free things, along with other things. You can do illegal things with a jailbreak, like getting free apps and other things, but the cops won't go after you because there are too many people doing it, so you probably won't be fined, they probably won't know you did jailbreak it. Just know you can render your phone to a brick (meaning it won't work at all), if you jailbreak incorrectly.

Well it's not illegal in the sense that you'll be fined or arrested, but when you jailbreak an Apple product your warranty will become void and useless. Also if you send it for repairs or something they won't be to happy about it.

The real question to ask is why do you want to jailbreak in the first place?