I have been reading a lot of layman-level stuff on nuclear power plants, and I don't really understand the choices of neutron moderators.
Hydrogen makes sense, because it very light, although, it absorbs a lot of neutrons and thus need refined fuel.
Deuterium is a bit heavier, but has a much lower cross-section, so can run on lower grade fuel, but is also less compact and more expensive.
Carbon was used in many experimental reactors, but I don't really see the advantages: it's much less efficient than hydrogen and deuterium at slowing down neutrons, not as good as water to extract heat, and can accumulate Wigner energy and catch fire.
Most commercial reactors use light water, both as coolant and moderator. The main issue is you need to keep it at high pressure to avoid boiling, and large high pressure vessel are expensive and dangerous. Why don't we use high boiling point hydrocarbons to do the same job? They are made of hydrogen and carbon, and possibly oxygen and nitrogen, that are all neutron moderators, they are liquid at the working temperature of the reactor, and would work at ambient pressure.
Of course, using flammable coolant is a risk, but refineries handle large amounts of heated oil every day, and you could have safety features, like a containment unit filled with nitrogen, that would be much cheaper than the current ones because they wouldn't need to be able to withstand an explosion. Also, they are reactors using molten sodium or fluorides which are much more difficult to handle, and much more dangerous in case of a leak.
I'm pretty sure there is a good reason people don't use molten paraffin, I just don't see it.

