If necessary, cook the bacon according to one of my easy methods listed below. Once cool, dice into small pieces.
Meanwhile, prick the potato all over with a fork, then place on a microwave-safe plate. Microwave on high for 6 to 10 minutes or until soft and cooked through. Let cool. Slice the potato in half, then carefully scoop the insides out into a mixing bowl. Discard the skins.
With a fork, mash the potato until smooth. Add the Greek yogurt, sour cream, garlic powder, onion powder, salt, and pepper. Add the cheddar, 2 tablespoons of the chives, and all but 2 tablespoons of the bacon. Stir to combine. Taste and add additional salt or pepper as desired.
Transfer to a serving bowl, then sprinkle the remaining bacon and chives over the top. Serve warm or at room temperature with potato chips. (For directions to serve hot, see recipe notes below).
This dip also tastes excellent hot. If you'd like to serve it this way, after mixing the ingredients in Step 3, transfer the dip to an ovenproof dish, sprinkle the remaining chives and bacon over the top, then place in a 350 degree F oven until warmed through.