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There is a long history of the "Block Size wars," and there are many arguments that I won't repeat or summarize here. Two of the most important (IMO) however,
by chromatin 4y ago
There is a long history of the "Block Size wars," and there are many arguments that I won't repeat or summarize here.
Two of the most important (IMO) however, are:
1. Small blocksize permits anyone to run a full validating Bitcoin node with minimal consumer hardware (including a Raspberry Pi).
2. As the block subsidy decreases, fees will become more and more important component of miner revenue; gigantic (or taken to the logical absurd, unbounded) block size means no fee market will emerge.