i think Bitcoin is only profitable if done at large scales. you must get expensive mining equipment and of course it consumes a lot of electricity monthly. Also its usually much more cost effective to buy Bitcoins with this money instead of using it to buy mining equipment.
Well it depend on how much are you willing to invest in the bitcoin. If you are investing with a low capital then it is better to buy hashes and mine bitcoin or should I say satoshi but it would take a lots of time and effort just to collect 1 bitcoin. But if you would invest a large capital then it is better to invest it in the bitcoin. It is the right tw to invest in the bitcoin because bitcoins price is going down but eventually it will go up again like boom! So you will earn a lot if you will invest now in the bitcoin.