Not to mention that money is the toughest thing to get by, everyone will want to have it when we talk about it. Since they have seen their friends cash out and you are telling them this is a scam, telling them is the best course of action in this situation, even though I know they won't listen. I like the way you approach this problem because after they suffer the consequences, they won't know where else to turn but to come back to you for better advice, at which point you can introduce them to Bitcoin. They'll believe everything you say to them because of the error they made.
....then in the end, it kinda sucks that you might get the blame for the wrong advice even though the market is too unpredictable to just give advices that would guarantee that would work.
If you're friends with Elon Musk, it might be different though. A single investment for him in Bitcoin wouldn't matter that much for obvious reasons.
This is why I tend to be silent sometimes when bringing friends into this kind of stuffs especially earning money.