The process of hitting on a girl you'd like to fuck, but can't because you have a girlfriend. This technique allows you to stay sharp when said relationship is terminated.
Guy 1: Hey bro, I saw you going to lunch with that girl from accounting. You gonna smash that?
Guy 2: Nah, just Sharpening The Blade cause I won't cheat on my girlfriend.
When a guy inserts his penis into a girls tight pussy and fucks her until they both cum, making the guys penis sharp like a pencil. AKA- Sharpening his pencil.