Peel the russet potatoes and slice them into thin rounds. Slice the onion and chop the bacon.
Add the bacon to a large skillet or pot and cook over medium-high heat until cooked through.
Remove the bacon from the pan, leaving the rendered bacon fat behind.
Add the sliced potatoes and onion to the bacon fat. Cook until they begin to soften and pick up some color.
Reduce the heat to low.
Add the garlic powder, paprika, black pepper, and cooked bacon back to the pan.
Pour in the ½ cup chicken stock or water and stir everything together.
Cover and cook on low for 25–30 minutes, stirring occasionally, until the potatoes are tender and the liquid has thickened into a gravy-like sauce.
Remove from the heat, allow to cool slightly, then taste and add salt as needed before serving.