I thought it is time the storehouse of human knowledge upgraded his knowledge on this subject, since this article dated circa 2001 was published, undoubtedly at the cutting edge of medical knowledge at that time.
Here is a summary of facts currently known about the evils of (excessive) male wanking:
Seminal matrix is a treasurehouse of neurotrophic chemicals. The seminal fluid is extremely rich in DHA, EPA, other Omega-3 and Omega-6/9 oils, Choline, neurotrophins, nerve growth factor (NGF) and Brain-derived Neurotrophic Factor (BDNF). The seminal fluid is the richest bodily source of nerve growth factors outside the human brain.
Symptoms of excessive masturbation develop only many years and sometimes after decades, but when they do show up, significant damage is already done.
Neurotrophins and fatty acids like DHA are critically important for normal brain and eye functioning. A deficiency of these have been implicated in a range of disorders like depression, bipolar disorders, a whole bunch of other mental and psychiatric conditions, retinal degeneration, macular degeneration, and incurable neurodegenerative diseases like Alzheimer’s. Another common manifestation is the loss of memory - especially short-term, working memory.
A common cause for these syndromes is the long-term loss of neurotrophins, minerals and fatty acids that live in the seminal fluid. These are NOT useless overstock that the body is happy to jerk off because it has an endless reserve of these. In particular, NGF and BDNF are incredibly difficult to restore when depleted.
In some Eastern traditions - especially in Hindu and Buddhist traditions - semen is considered veerya, which roughly translates to “life” or “vitality”. It was specifically claimed that sexual abstinence resulted in the conserved semen translating to “ojas sakti”, which means the conserved seminal constituents somehow made their way to the brain, where they became good stuff like intelligence, memory etc.
I am inclined to believe them.
Masturbation is a good way to lose steam when dealing with a powerful bout of lust. It lets you throw away pent-up feelings that might otherwise overpower you, leading you to commit a crime you would regret later. But, while useful in moderation, it does come with costly implications when overdone.
My beef with the straight dope column referred to above is that it paints masturbation as a harmless innocent indulgence that has no consequences at all. That is so clearly wrong, and medical science is now slowly rediscovering what the ancients said long ago.