CaptKirk, obviously the resolution is crappy so it's impossible to be sure. Meatpie has stated that it's a fake. He may have some background knowledge that I'm not aware of but, if he hasn't, then it will be up to each person to form their own opinion on whether it's real or fake.
In the absence of any other information, my instinct is that it's real. I've blown the vid. up to full screen and have watched it many times. It's obviously heavily edited, taking place over a period of days, and the soundtrack is not the actual one but, if you look closely at how the skin is peeled back after the first few cuts together with the spurts of blood happening at the correct time for the severance of certain arteries within the penis, I'm inclined to believe that it's real. Also, the mess that the lad makes when he's peeing at the end of the video is consistent with having the penis cut down to a very short stump - look at where the first incision is made.
Just my opinion.....