In a large mixing bowl, add the beef and toss with 1 teaspoon of salt and 1/4 teaspoon of black pepper. Let sit for 15 minutes.
Heat 2 tablespoons of oil in a large pot over medium heat. When hot, add beef in batches, allowing pan bottom to be visible between pieces, and brown on all sides, about 5 minutes per side. Remove meat to a plate; set aside. Repeat with the remaining beef and add more oil if needed. Remove and discard all but 2 tablespoons oil from pot.
Add the onions, garlic, and 1 teaspoon salt to pot and saute over medium-low heat until translucent, about 7-8 minutes. Adjust heat as need so they do not brown.
Sprinkle flour, both paprikas, and caraway seeds over the onion mixture and continue to cook 1-2 minutes, or until the spices become fragrant.
Add wine and continue to cook until reduced by half. Add beef broth and Better than Bouillon, and the browned beef; bring to a boil then reduce heat and simmer, about 2 1/2 to 3 hours or until beef is fork-tender.
Stir potatoes, carrot, and red pepper into the soup. Simmer until vegetables are tender, about 20 minutes. If broth becomes too thick add more beef broth or water to thin. (I like my broth to be like gravy) Adjust seasoning and serve!