/prə(ʊ)ˈkrasturbert/
verb
past tense : procrasturbated; past participle : procrasturbated

delay or postpone action and masturbate instead; put off doing something and have a wank.

Briefly, "the realization that each random passerby is living a life as vivid and complex as your own." Originally from the Dictionary of Obscure Sorrows, which has a lot more beautiful neologism definitions like this you might enjoy.

1.) To waste time (procrastinate) by pleasuring oneself (masturbate), putting off other work that one should be doing by masturbating.

2.) To screw oneself (figuratively) by not doing work when one should be.

to masturbate when you should be doing something more constructive.

(v) To waste time pleasuring oneself.

Background: Term coined by Bernard Bangwanger to accurately describe his daily activities.

Aus. v. The art of postponing work to meet with Pamela Handerson.

The act of masturbating when you have other things to be doing.