have i ruined my mash guys?

[irishmike]

ive had a mash of rads "gerber" on for around 24hrs and am getting worried i doomed it from the start. I made the mash according to rads recipe and am fermenting it in a 5gal water jug, the kind that fits into a stand up cooler. ive read on here that many people dont use airlocks and i figured that the moonshiners of old probably didnt either. lost of people on here say they just cover a wash with a cloth to ferment. ive searched this site all day and keep finding conflicting info about the need for an airlock to deny oxygen. the mash is bubbling away but i read somwhere on here that this means fermentation is taking place but that alcohol isnt nessesarrily being produced. i was so happy because it smelled like alcohol in my bathrom where my mash is but now i think that the smell im mistaking for alcohol is just a yeast smell, like how it smells in the local beer store. have i ruined this thing guys? any info you could give would be great.