In a large bowl, mix together the ground beef, curing salt, water, garlic powder, onion powder and liquid smoke using your hands. Divide in half, and form each half into a roll. Wrap in plastic wrap, and refrigerate for 24 hours.

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Preheat the oven to 300 degrees F (150 degrees C). Unwrap the beef rolls, and place them on a greased baking sheet or roasting pan.

Bake for 1 hour in the preheated oven, turning the meat over after 30 minutes. Cool to room temperature, then refrigerate until chilled. Slice, and eat on sandwiches.