i ) A half erect penis.

ii) Something that is useless

iii) Something that appears to be on its way to being useful, but isn't

iv) Something that possesses all the drawbacks, and none of the advantages of a given phenomenon
Steve : Did you get a raise at work ?

Dave : Yes, but only $2,000

Steve : That's like $50 a paycheck after taxes

Dave : It's about as useful as a half hard dick.
by The Rockit February 10, 2010
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