We debate this all the time when we get a new website project. From a designer’s perspective, infinite scrolling can be very cool. However, it can be prohibitive from a user’s perspective and it’s never been quiet clear that the hidden content would be included in the index of the page (although I’m 98% positive it is indexed, based on what I’ve read and experienced with some of our sites).
Yoast provides some good insights on this debate and I like this solution:
One of the things that is always pup for discussion is how to add large blog archives or even homepages to your blog. This can be done in a number of ways. You can list a certain amount of blog posts and add and ‘Older’ link at the bottom of that list.
It doesn’t solve the debt around here (I’m looking at you, Elias), but it is a good compromise, albeit it’s not as cool as the traditional infinite scrolling effects.
Source: Pagination vs infinite scrolling