Bitcoin: a little help here please

[steve2470]

I know some of the basics about it, but my enduring question is, why does the world need it and the other crypto-currencies ? To put it simplistically, I can pay all my bills with my credit card or cash or my bank account. A large corporation like ExxonMobil can do the same, with its corporate assets.

I'm reading this article which talks a lot about how bitcoin miners are soaking up all the excess electrical power in the hydropower-rich Columbia Valley basin. Yes, you can (or could) make a ton of money mining bitcoin, but for how much longer ?

I'm not knocking the overall blockchain technology but why use bitcoin or Dogecoin or Litecoin when I can just pay for my stuff the old-fashioned way ? I just don't get it. Thanks in advance for your respectful and informative reply.

Steve