Place the dried black beans in a medium-large bowl, along with water enough to cover the beans by a couple of inches and 1/2 teaspoon of salt. Place a lid loosely on the bowl and soak for 8 hours, either on your counter or in the fridge.
Drain and rinse the beans well and then press the saute button on your Instant Pot. Heat up the inner pot for 2 minutes and then add the drained and rinsed beans, along with the rest of the ingredients (chili powder, coriander powder, garlic powder, onion powder, oregano, salt and cumin powder).
Stir and cook for 2 minutes and then turn off the Instant Pot. Lock the lid in place, making sure the nozzle is pointing in the sealed position. Use the Manual (or Pressure Cooking) mode and set the timer for 15 minutes.
After the timer goers off, use the natural release method until all of the pressure is out of the pot. Carefully remove the lid and stir. There will be some liquid left in the pot but thats okay, it will thicken up as it sets.