It allows a person to act without worrying about losing anything, although the true greats do what they honestly think is best even if they have something to lose.
The nothing to lose bit is really just a perspective, you can build it really easy.
To have the nothing to lose perspective, just realize anything that goes against what you think is best is the same as anything else. As long as you are willing to learn and think and feel on what you believe.
So if you end up homeless, or without food, that is no different then unemployed, and that is no different then work you don't like. And that is no different then being something you don't want to be, or being a way you think is not best.
If you can see what you think should be, and are willing to have nothing or everything to get there, there is a reason for that. Because any place not in the better place is the same, and not acceptable. For me that is a more just society, and that includes compensation for wrong done to me years ago by smear.
With courage people are seen for what they are, because they speak for what they believe. If they go down in flames, they at least stood for something, and if it was wrong by education or lack of knowledge, you can't blame them, however those that know they are wrong and argue for something with courage, might just not care.
And I am still owed beer and travel money and many good experiences, and they will pay.
A favorite song, that I like for the same reason your post says, at least in this song the concept is even if going down in flames, they are going to do it boldly.
Shaun of the Dead (Queen-Don't stop me now)
http://www.youtube.com/watch?v=_YWXNHAvG6ENote diebold, is bold, sure they will go down in flames by the deception behind stolen unaccountable votes, but by being so bold about that theft, we can see it when it happens, so being bold helps by education, either showing what not to do, or showing what should be done.
I am heading up, and nobody stopping me either, weather I am ice cold or white hot.
And I am still owed beer and travel money and many good experiences, and they will pay.
Note: Having everything, is different for different people, I think it is having what can make your life fulfilling and happy.