Take a block. Sharpie the center of the block. Roll it.
The point that you marked moves up and down, and its motion is very jerky. Large sudden forces act upon the block to make this path possible, and at higher speeds those forces grow very quickly.
The same is not true for a rolling circle. The center moves in a perfectly straight line, but even the non-center points follow nice and smooth sinusoidal curves. No jerky motion, no strong forces, and so very little energy lost.
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