Moshable.com is unlikely to make major inroads against larger players like MySpace Music, but the Oregon-based social network for musicians must be commended on its phenomenal choice of name.
In all seriousness, social networking for music is a competitive market and bands go with whichever site provides the greatest distribution to their target demographic - even if Moshable met its claim of being the "ultimate music site where you can discover and meet new bands, new music, and industry news every day", those claims mean nothing without audience and distribution.
For a recap on the state of the music market, check out our compilations of the best music sites:
Online Music: 90+ Essential Music and Audio Websites
30+ Awesome Sites for Streaming Music
25 Tools For The Independent Musician