I wanted to make a quick clarification for everyone regarding the discussion with enki:

I do realize that, in general terms, arbitrage functions the way enki describes. That is to say that an arbitrage in two normal markets (like bittrex and poloniex for example) won't really effect price.

There is something... im not 100% sure what, that makes the internal market here... stickier. Less responsive to buy pressure. Part of it could be the dollar peg. Another part of it is the inverse valuation relationship between steem and SD.