Tweaks still have to be updated for arm64 support. And once 7.1 is released apple most likely will patch the exploits used but if they don't then you would have to restore to 7.1 and rejailbreak but it will take a while for the jailbreak tool to be updated for 7.1
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The tweaks being updated have nothing to do with his question.
If the exploits aren't fixed, which is unlikely, you'll see the tool updated within 24 hours. That's pretty standard. Look at the 6.x evasi0n tool as an example. If 24 hours is a while, then yes we'd have to wait a while.
jmendel, iOS is like windows for your phone. Every time you update iOS, you're reformatting your phone, installing a new OS, and then optionally restoring some data you saved prior to the reformat. Jailbreaks find vulnerabilities in the OS to inject some additional programming to allow you to gain more access to your phone. The programming is just a modification of what is already on the phone. When you reformat, you delete this additional programming as well as the iOS. If the new iOS changes the former code, the vulnerabilities might not exist anymore. Generally speaking, Apple makes a point to ensure those vulnerabilities do not exist. If they do, you simply need to run the updated tool again. If not, someone needs to invest time to find other vulnerabilities to produce the same result. As the jailbreak is purely software, you need to make the software modifications each time you restore the phone. If jailbreaks were hardware, you'd get to avoid re-jailbreaking. Going forward, the most important thing for you to take from this is updating your iOS, even to the same version, means you're erasing the jailbreak. As such, you'll need to jailbreak again if you'd like to maintain the jailbreak.