Masterfag is the highest point on a representational scale of how faggy something is. It can also be used to show how someone or something has mastered the art of being a fag.
Combination of hipster and fag. May also be spelled "hipster-fag" or "hipster fag". Used as a derogatory term to describe particularlypretentious members of the hipster or emo scene by appending "fag" to mean "stupid".
As I walked by the bistro yesterday, I saw that hipsterfag from my English Lit class in a Che Guevara shirt and rolled up levi's eating tempeh and talking to some white girl with dreadlocks about Federico Fellini movies.
The act of masterbating to orgasm as quickly as possible, usually due to the need for sexual release in a restricted time period. If the hasterbater does not orgasm in time, they will suffer terribly until another chance arrives.