Step 1

Season beef all over with kosher salt. Heat oil in a large heavy pot over medium-high heat. Working in batches (you want the beef browned, not steamed), cook beef until browned on all sides, 8–10 minutes. Transfer to a plate.

Step 2

Pour off all but a tablespoon of oil from pot. Reduce heat to medium and add the butter, onion, garlic, and ginger. Cook, stirring often and scraping up browned bits, until onion is translucent, about 5 minutes.

Step 3

Add curry powder and cook, stirring, about 3 minutes. Stir in bay leaves, coconut milk, and 1 cup water.

Step 4

Return beef to pot. Season with salt and bring to a simmer. Cook, partially covered, until beef is just fork tender, 30–35 minutes.

Step 5

Add potatoes, bring to a simmer again, and cook uncovered, stirring occasionally, until beef and potatoes are tender, 25–35 minutes. Thin with water if needed; season with salt to taste. Serve over rice, topped with cilantro, sliced chile, and lime wedges.