Could I mine bitcoin and profit?

It is not very profitable to use your home setup to mine BTC. Something I would look into, is renting machines that are built specifically for mining crypto-currency, and I would choose a more stable currency. The best thing to do is get involved in some BTC-related forums, there are some experts out there that could lead you in the right direction.

Another thing that is more profitable than mining, is currency exchanging. There are folks that will pay you up to 20% to exchange their Paypal funds to BTC.