Should i download iOS7 on my iphone 4?

So i thought iphone 4 could not receive the iOS7. But turns out you need 2.8GB of storage to do it. I deleted some apps and got the storage and began downloading it. Then my brother told me that all of his friends that have an iphone 4 and has downloaded it has erased everything on their phone and totally screwed it up. Is this true? Will it happen to me? Mine downloading is still on the first step, if you think i should stop the download to save everything on my phone how can i do that?

I suggest that if you want to download Ios 7 then you wait 2 or 3 days till Apple fixes all the problems that it is currently having. Yes, it is messing up peoples phones but there are always bugs when anytihng comes out first. So I suggest you wait a couple of days then download it.