In a large bowl, mix together the ground beef and water until well blended. Season with garlic powder, curing salt, liquid smoke and mustard seed, and mix thoroughly. It is best to use your hands for this - like meatloaf. Form the mixture into two rolls, and wrap with aluminum foil. Refrigerate for 24 hours.
Preheat the oven to 350 degrees F. Remove foil from the beef, and poke holes in the bottom of the rolls. Place them on a roasting rack in a shallow roasting pan to catch the drippings.
Bake for 1 hour in the preheated oven. Cool, then wrap in plastic or foil, and refrigerate until cold before slicing.