These are instructions on how to jailbreak your iPhone with QuickPwn. The instructions have been updated for the latest (2.1) version of the iPhone firmware.

Step One

Create a folder on your desktop called Pwnage

Step Two

Download QuickPwn 1.1 from here

and place it in the Pwnage folder. Likewise, download the latest 2.1 firmware from below and place it in the same folder.

2.1.0 (2G): iPhone1,1_2.1_5F136_Restore.ipsw

2.1.0 (3G): iPhone1,2_2.1_5F136_Restore.ipsw

Step Three

Double click to mount the QuickPwn [QuickPwn_1.1.dmg] archive. Drag the QuickPwn application icon into the Pwnage folder on your desktop.

Step Four

Double click to launch QuickPwn
from the Pwnage folder.

Step Five

Click OK
to accept the copyright notice.

Step Six

Connect your iPhone to the computer when asked then click the OK
button.

Step Seven

QuickPwn will now automatically detect the device connected!

Step Eight

QuickPwn will now automatically search for the latest firmware for this device

Step Nine

You will be asked if you would like to replace the original boot and recovery logos on your iPhone. Select Yes
or No
to continue.

Step Ten

QuickPwn will now begin building your custom IPSW.

Step Eleven

You will be asked to enter your administrator username and password. Do this, then click OK
to continue.

Step Twelve

QuickPwn will now help you put your iPhone into DFU mode. First, turn off the device.

Next, you will be asked to hold both the Home
and Power
buttons for 10 seconds.

Finally, you will release the power button and continue holding down the Home
button for another 10 seconds.

Step Thirteen

QuickPwn will now automatically begin sending information to your iPhone.

Step Fourteen

You will now be notified that QuickPwn is modifying your iPhone. The process will take some time and will cause the iPhone to reboot. Don’t do anything until the process has completed!

Step Fifteen

Once your iPhone has rebooted it will be jailbroken and have both Cydia and Installer on the Springboard!

source