Place a large pot, filled with water, over medium-high heat and bring to a boil.
Once the water has come to a boil, drop the pasta in along with a small handful of salt (about 3 tablespoons).
Cook the pasta for 7 to 9 minutes or until al dente, stirring frequently.
Drain the pasta, toss with a small amount of oil and set aside.
Place the olive oil in a large sauté pan and place over medium heat.
Add the potatoes to the pan and season with salt and pepper.
Sauté for 5 minutes and add the onion, bell peppers and thyme. Season with salt and pepper and stir.
Sauté the mixture for 6 to 8 minutes or until the onions and peppers have softened and the potatoes become fork tender.
Pour the mixture into a bowl and set aside.
Place the pan back on the stove over medium heat and add the tablespoon of butter.
Pour the beaten eggs to the pan and gently scramble for about 2 minutes.
Add the cheese and stir. The mixture should still be a partially runny.
Add the linguine and potato mixture to the pan and toss together until everything is fully combined and the eggs have cooked through. Season with salt and pepper.
Sprinkle the bacon over the pasta and serve hot.