To cut down the cooking time for the octopus and to make sure that it will be tender when it is done, freeze it first. If you have bought a previous frozen octopus, you can skip this step. Place it in a large pot of boiling water and cook until soft enough to eat. This usually takes about 1 hour for a 2-pound octopus. To test its tenderness, insert a knife where the legs and head meet. If it goes in easily, it is ready to eat. Remove the octopus from the water and allow to cool. Cut into bite-size chunks. Fill a medium-sized pot halfway with water. Bring to a boil over high heat. Boil the potatoes until they can easily be poked with a fork. Remove from heat and place under cold running water. Allow to cool, then peel the potatoes and slice them into rounds about 1/3-inch thick. Arrange potato slices on a serving platter. Place octopus on top. Drizzle with extra virgin olive oil, sprinkle paprika over top and serve.