What are the pros of giving up and the cons of letting go

There are key differences between "giving up", and "letting go". For example:

Pros for giving up: Sometimes, it is best to give up, such as if you are having a hard time climbing Mt. Everest, which, in this case, may result in death if you do not admit your limit and go back down.

Cons for letting go: For example, if you are hiking with your love one, and she slips off the trail and about to fall down, and you catch her, you wouldn't want to let go, because:

1) It is a human's life at stake

2) She holds a special place in your heart, and you do not want to see her demise.

And so you continue to hold her.

hope this helps