In a large dutch oven, heat 1/2 Tbsp butter on medium heat until melted. Add 1/2 of the beef, salt, and pepper and brown on all sides (takes about 8 minutes per batch). Repeat (adding another 1/2 Tbsp of butter) for 2nd 1/2 of beef.
While the meat is browning, prepare your vegetables. Chop onions, carrots, and potatoes into chunks. Mince the garlic.
Once all the meat is browned, remove from pot and set aside. Using the juices and browned bits from the meat, saute the garlic and onions until translucent(about 5 minutes). Stir in tomato paste.
Add meat back into the pot. Add all liquid (wine, broth, and water). Add bay leaf, thyme, and more salt and pepper. (The smell of the wine at this point was about all I could take! Felt a bit like Julia Child up in here!)
Stir, cover, and allow to simmer on low for about 2 hours. After 2 hours, add carrots and potatoes, stir, and simmer for another 2-6 hours! If using peas, you can add them just before serving, long enough for them to heat through.
