Combine the beef and cold water in a Dutch oven and mash with a potato masher until no large clumps remain.
Bring the mixture to a simmer over medium heat and cook for 10 minutes until the beef reaches 160°F, skimming excess fat from the surface.
Add the onion, garlic, tomato sauce, chili powder, cumin, cocoa, cinnamon, allspice and salt.
Simmer uncovered over low heat for 75 minutes, stirring and mashing occasionally, until finely textured and sauce-like.
Stir in the vinegar and rest for 10 minutes; serve as chili or with the traditional accompaniments of your choice.