You dont mine bitcoin directly, because of present difficulty you are not able to make reasonable profit also, so you go with mine some other new releasing coins everyday, and make it exchange with bit coin, it will be reasonable. And you try mining with GPU, graphics processor unit, so you can mine any type of algorithm. For more details you can PM me or vgmohanrajan at gmail dot com. And if you willing to buy any GPU refer https://bitcointalk.org/index.php?topic=575870.0

If you mining using ASIC, In case in any situation bit coin not works, you can not sell ASIC miners, or if you using GPU, you can sell it any time so it can be used to gaming, designing, editing, etc.