Yes, sub the exact amount of water with glycerin. When heating the glycerin, heat slow in a BIG pot, don't burn it, just until it's very watery (glycerin is gooey at room temperature) then mix in the lye. Be very careful at this stage! Lye in hot glycerin will bubble up like a volcano so pour in the lye SLOWLY, little by little, I'm serious! Then you just melt all your oil and butter in your crock pot and mix in your hot lye. The whole process from pouring your lye glycerin into your oil/butter to getting transparent is very short, like within 15 minutes I think, well, depends on the size of batch you are doing of course. Anyway, you saw each stage of photo on my blog. As soon as you reach that amber transparent gooey glue then you turn on your crock pot low heat and cook it until it's very thick sticky taffy, probably within 2 hours. Let it cool down. After it cools down it will become paste, just like how you normally make liquid soap with water, like dehydrated taffy paste. I do let mine 'cure' for another week though. I found newly made soap not as mild. If you google youtube I think there's one video actually showing you how to make liquid soap with glycerin, there's only one I've seen. I didn't use a stick blender so mine went slower, if you use SB it'll go very fast!
Here's the youtube link:
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