but there are some newbies who will lose serious money thinking that they are involving in a legit biz
Oh but c'mon man. You are responsible yourself for what you do with your money. If you put money in it and you don't know this is a Ponzi scheme, then you are a total retard. I put money in it 2-3 months ago. It was quite new back then. That's the time to invest in it. And I put 260 $ Steemit money into it because I didn't trust it but I thought it was worth a gamble. But there are really idiots that will put 1000s of dollars into it at the end of the Ponzi scheme. These people are really stupid. But stupid or not, they are responsible themselves for being so dumb.