I make this all the time and it turns out perfect every single time. Bring it to a full boil while stirring. Reduce the heat to low/medium so that it's still bubbling a little bit. Let it bubble for 8 minutes. When after the 8 minutes, drip a tiny bit into some cold water, if it floats to the bottom and turns in a little ball, it's ready. That's it. The soft ball stage seems strange but it works. Then add the peanut butter and butter and stir it until you can see the scraps on the bottom of the pan, it means it's starting to get thick, pour it in the pan before it gets too thick.
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I make this all the time and it turns out perfect every single time. Bring it to a full boil...