1. Hallo, mijn naam is Erik en met deze hand masturbeer ik. (English:) "Hi, my name's Erik, and I masturbate with this hand."
2/3.
Guy1: Hey, whatya doin'?
Guy2: Ah, nothing, just masturbeering.
Guy1: Oh, cool, lemme join :D
Guy2: Have you got some lube then?
Guy1: No..
Guy2: Then let's use the third definition of masturbeer :D!
Guy1: O_O...
Self service, in response to a break up, or a girlfriend who won't give you any. A man's way of saying "I don't need sex either bitch!" A man's best war cry.