I have jailbroken iphone4 4.2.1, and a couple of times over the last few days it would reboot on it's own. Both times it happened, I was not using the iphone. I just happened to glance at it and it would be showing the apple logo. I ran redsn0w and boot tethered and everything is fine. I am just wondering what could be causing this?
If you have the time , you can isolate the problem by just restoring to stock fw and monitor this issue with jailbreaking. If it is a hardware problem, then you can get a replacement. It could also be due to the buggy redsn0w for iphone 4 at 4.2.1. I am happy with 4.1.
What you can do now is restore to firmware 4.1 there are plenty of tutorials on youtube that will help you out it worked just fine with my ipod touch 3g