Naturally, Moldbug has something to say on this, at least for those with libertarian sympathies:

Perhaps the best and most succinct statement of the reactionary philosophy of government - especially considering the context - was this one:

Truly I desire their liberty and freedom as much as anybody whomsoever; but I must tell you their liberty and freedom consists of having of government, those laws by which their life and their goods may be most their own. It is not for having a share in government, sir, that is nothing pertaining to them.

Where the context he was referring to was:

KING CHARLS
HIS
SPEECH

Made upon the
SCAFFOLD
At Whitehall-Gate,

Immediately before his Execution,
On Tuesday the 30 of Ian. 1648

http://anglicanhistory.org/charles/charles1.html

This points to the fundamental conundrum that libertarians are just now starting to grapple with. In a polity where it is a given that "to secure these rights, governments are instituted among men", you can have some expectation that democratic, representative government is a decent means to secure your freedoms. It is a means, and not an end in itself.

Libertarians largely have the motivations of Thomas Paine with regard to government:

Government, even in its best state, is but a necessary evil; in its worst state, an intolerable one.

We don't want to vote. We don't want to participate in government. Not really. We don't want to run other people's lives. Run your own damn life, and leave me alone to run mine.

But when the polity changes, increasingly populated by those who do want to participate in the domination of the lives of their neighbors, and to be similarly subjugated themselves, what then?

Whether it's one vote, one time, or a vote every other year, if the result is always increasing subjection, what's a libertarian to do?

Moldbug went down the libertarian -> anarcho capitalist -> reactionary path. I see it as a recognition that despite anarcho capitalist hocus pocus with respect to markets to the contrary, violence is a natural hierarchical location based monopoly - a government. So his answer is to respect the reality of power, and sweep aside ideologies that make the outcome worse than what honest human livestock ranchers would devise. I'm not convinced on that score, but Moldbug would hardly be alone in being able to provide a compelling critique while providing a less than compelling alternative.