Xbox1 500gb vs 1TB

The more storage the better.

Unless you are planning on buying an external hard drive as well then i'd pick up a 1Tb console.

As Smwutches said,the 500gb is only left with 368gb of actual storage which fills up pretty fast as a lot of games are around the 30-50gb size.

It really depends on the games, but One games are generally much larger than 360 games, so a 500gb fills up pretty quickly. After system files a 500gb only starts out with about 368gb of usable storage space.

If you got it from Xbox store then you won't need the disc. This applies to Xbox 360 as well if you have any games you bought from the Xbox store you can play without disc and play anywhere

Well if the game gets installed on hard drive then what is point of game disc?

Every game that you want to play will need to be installed and games are instilled on the hard drive. You will able to store twice as many games on the 1tb then the 500 gb. You can also store media on the hard drive as well and play them on the Xbox.