Whatever one thinks of the initial creation of the Libertarian Party, its continued existence seems to be a mistake for libertarians.For all the hate mail he's going to get, he's right, and not just for the reasons he gives.
The two parties are continuously in "dialogue" with its component parts. Each side gathers their coalitions where they can, making compromises within the party. While libertarians can feel ideologically "pure" (never mind the problems with their weltanschauung)they fail to engage the various factions of either party when they choose isolation. After awhile, the parties will ignore the libertarians' demands when the libertarians become nothing more than a stubborn unpersuadable 1%. Meanwhile, the mass of voters will be moved by the two parties major ideas. As elections become more contentious and ideological, as the Democrats move to the Left and Conservativism cements its hold on the Republican party, the libertarians will be left without any voice, except at Star Trek conventions.