Preheat your oven to 350°F. Spray two 9-inch round cake pans with baking spray (or grease and flour them).
In a large bowl, whisk together 2 cups of sugar and 2 cups of flour until well combined and any lumps are broken up. This only takes about a minute, but it makes a difference — the mixture will look noticeably finer once that sugar is mixed in with the flour. Set this aside.
In a saucepan, combine the water, butter, buttermilk, and cocoa powder. Place over medium heat and whisk occasionally as the butter melts. You don't have to stir it constantly at first, but as it gets closer to boiling, whisk it more frequently. Bring it to a boil and let it go for about 30 seconds, then remove from heat.
Pour the hot cocoa mixture directly into the flour and sugar bowl. Whisk it all together until smooth — it comes together quickly.
Add the vanilla and baking soda and whisk them in.
Beat the two eggs in a separate small bowl with a fork, then add them to the cake batter and whisk until fully incorporated. You want to let the batter cool down just a bit before adding the eggs so they don't cook on contact. By the time you've whisked in the vanilla and baking soda, it should be cool enough.
Divide the batter evenly between your two prepared pans. If you see little air bubbles on top, pick the pans up and give them a few firm taps on the counter to pop them — this helps the cake bake more evenly.
Bake at 350°F for about 19 minutes. Check it by gently pressing the center — it should spring back and not feel liquidy. You can also do the toothpick test if you prefer. Every oven is a little different, so start checking at 16 minutes. If your oven runs a little slower, it may need a minute or two more.
Let the cakes cool completely in the pans before turning them out. If you're not icing right away, wrap them well so they don't dry out. These layers actually freeze beautifully — wrap them tightly and they'll keep in the freezer for up to one or two months, and they come out even more moist.
No buttermilk? Add 1 tablespoon of lemon juice or white vinegar to 1 cup of regular milk, stir it, and let it sit for 3 to 5 minutes. It will curdle and work just like buttermilk. You only need half a cup for this recipe, so you'd use half a tablespoon in half a cup of milk.