Cook and stir the beef in a large pot over medium heat until the beef is brown, about 10 minutes. Drain.
Heat chili powder and red pepper flakes in a large skillet over medium-high heat for about 2 minutes. Add to pot with beef.
Return skillet to heat, heat oil, then add onion and saute until golden brown, about 5 minutes. Add bell pepper and jalepeno, cook until tender-crisp, about 3 more minutes.
Add adobo, cocoa and garlic powder to beef, stir well. Add tomato paste and stir until well-combined. Add 6 cans water, stirring after each can, until the sauce is smooth.
Add beans, onions and peppers to pot. Stir. Bring mixture to a slow boil; cover and reduce heat. Simmer at least 30 minutes, stirring occasionally. This chili can be simmered for several hours; the longer the better.