I just had a mental breakthrough and realized that increasing block size would make the fees go down because it allows for faster transaction frequency... So all the debate about block size is also about the transaction fees. Now I am inclined to think that increasing block size is good. What are the arguments in favor of small block sizes?
I totally agree with you on using altcoins because bitcoin fees are too high. I personally use Ripple to transfer cheap between crypto exchanges, other people use litecoin, ...
I believe that the argument is that it will cause centralization because only big data centers would be able to run full nodes. And that the block size increase needs a hard fork, which means that it forces old nodes to upgrade to new software. The point is that Core believes that change is not necessary and it has it costs, so they try to go around it with the Segwit softfork.
@andreibi And is Segwit + Lightning incompatible with large block sizes? I am long on both bitcoin core and bitcoin cash, I want both to succeed, I just would like to know what are the arguments for low block size.
Segwit and LN are compatible with large block sizes, which is exactly what a upcoming hard fork in the second part of November is trying to do.
The so called Segwit2x will increase the block size from 1 mb to 2 mb, since Segwit is already activated on the Bitcoin network.
It has a support from big mining pools for now, but the Core team and many users don't really support it. We will see how it turns out. The fork is more unpredictable then the Bitcoin Cash fork, since it has a bigger support and the split could be bigger.