Bring water to a boil in large stockpot. Add greens, and stir down, letting the water return to a boil between stirs, then stirring a new area of greens down into it. This process might take 5-10 minutes, depending on the size of your pot, to get all the greens stirred down and wilted into the boiling water.
When all the greens are wilted and soupy, add peanut butter, stirring into the boiling water until it melts. The water will turn milky brown. Add garlic cloves and hot pepper sauce (start with 2 tablespoons and add more later to suit your capacity for heat). Stir everything together, reduce heat to lowest, and boil gently, uncovered, for 60 minutes, stirring occasionally during that time. If the liquid seems to be boiling away too fast and greens are in danger of drying out, sticking to the pot and burning, add a little water -- a couple of tablespoons at a time, just to keep it loose enough.
When dish is finished, the water will have boiled away, leaving a nice peanut sauce that coats the greens. (You may cook the greens more than 60 minutes up to 2 hours -- to suit your taste, but at 60 minutes they will be soft and perfectly rag-like. And the longer you cook them, the more water you will need to add to make sure they dont burn.)
Taste and add more hot sauce to suit yourself.
Note: You may use any kind of pepper or hot pepper sauce to give this dish a kick. While Tabasco is commonly found, there are a number of other brands available regionally. Or toss a dried hot pepper or two into the pot with the greens, and spice it up that way.