Turn the processor on high and let it go for a couple of minutes. When the peanuts get lodged or stuck on the sides of the processor, stop and scrape them down.
Turn the processor on high again, the peanut nuts will go through stages before it becomes smooth. it will form into a ball, thin out and then finally become something that looks like peanut butter.
Be sure to keep going until the peanut butter is smooth even after it thins out. Unless of course you want chunky peanut butter.
The processing all together took about 12 minutes for me.
Store in an air tight container. I'm keeping mine in the fridge, because I feel the overwhelming need to. It's not necessary.