An organization who controls who and what votes is far scarier than letting idiots vote. We in America have destroyed any organization (government led, or whatever) that attempts to limit the number of voters.
Mind you, who should decide who can and can't vote? The free market? The Government?
The answer is no one. The right to vote is considered sacred and that is a good thing. No one can or should deny others the ability to vote.
EDIT: I'm surprised that I have to lecture you on this. I thought you were a libertarian? Aren't you all for personal rights and liberty? The freedom to vote is absolutely essential, and a holy right regardless of your political background.
But it is THAT much more important if you're a self-proclaimed libertarian. Personal freedom is the king of the Libertarian philosophy.