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lasterbating 

Masterbating so much that your dick falls off and that is your last time masterbating because your dick fell off
Jim: hey what were you doing last night?
Me: I was lasterbating.
Jim: Dude, your dick fell off?
Me: Yep.
lasterbating by Vagina McNuggets September 23, 2012

rasterbating 

Resizing an image larger to fit on many pages. These are then printed out and placed side by side to recreate a large poster of the original image. Usually the image is also modified to be made up of small dots, similar to old comics.
"That poster is huge, it must have cost you hundreds."
"No, Wendy taught me about rasterbating, it only ended up costing like $10."
rasterbating by Chris DeHaan May 20, 2008

wanderbating 

To wander whilst masterbating. Frequently performed by those who get distracted easily and need a change of scenery. Painfully awkward for room mates, houseguests, parents, etc.
I once walked in on my brother while he was masturbating. Wait, I walked in on him while I was masturbating. I was wanderbating.
wanderbating by PhilFFI January 7, 2011

Fasterbating 

The art of masterbating really fast and cumming within a 2 minute range is called Fasterbating
David: Well, my mom was coming home soon, but I was majorly horny... so I started Fasterbating.

Jim Bob: And...

David: 1 minute 30 seconds

Jim Bob: Nice
Fasterbating by Chaz E. February 28, 2008

masterbating with a cheese grater 

Doing a task that is not a good idea
Moving this piano without help is like masterbating with a cheese grater.

masterbating 

Guy 1:Man, I think steve's masturbating again.
Guy 2: From the sound of it, he ain't just masturbating, he's MASTERbating.