I logged in to the forum today to try and find a topic about this. I knew i could not be the only person wondering why transaction fee's where so high.
I think this problem with absurdly high transaction fee's is a big problem for Bitcoin. If we want it to be a store of value and we want it to be taken seriously as a currency it's a big problem that fee's are this high. Imagine paying 10 $ credit card fee for buying 16 $ worth of food because the VISA network is congested.
You misunderstood what value means. In this context it's a tad more than 16$.
Also the analogy with VISA is not very fortunate, for many reasons explained so many times on this forum.
However, you're right:
it is a problem for Bitcoin.
I have a pretty big amount of bitcoin sitting in my wallet in an online casino. I can't choose how big/or small a fee i want to pay to withdraw it. It HAS to be 20.000 sats. I could write to support to see if they could make a custom withdrawal but i doubt i can get them to do that.
That's the fee you pay the casino. How much they pay for the network/tx fee and how they keep for themselves, it depends from one such service to another. Centralized exchanges behave the same and some even write that it's the transaction fee, when it's not. It's a withdrawal fee.