that sounds like a great way all round to get the **** bit out of youIf it hasn't really attacked you by now it most likely won't. I have several dogs in my neighborhood that run after you or at least out to you when I go on my walks with my wife. I always meet them head on, stop and let them come to me. Most times running out and barking is just attempting to show you they are boss. But they are usually more concerned about you than you are them. Take some meat, beggin strips, something. Stop when it comes out and let it come to you. Put a small treat on the ground between you or if it won't come for it, toss it, gently out past your reach. Many dogs will not come within reach out of fear. It may take days but this can get the dog comfortable with you. I have made friends of 5 of the dogs in my area, the 6th is afraid to let me touch him even though he takes the food I offer and 2 little yappers just aren't satisfied unless they are yapping. The only one that really concerned me was this walking MUSCLE of a bulldog that came running out a couple of weeks ago. But he was not displaying any other sign of aggression and once he got close he was quite friendly.
Very few dogs are truly mean in my experience. Those, unless they are big or just crazy(knew ONE dog that was "insane") can be hurt or killed as long as you face them. A dog has only one weapon...it's mouth. A dog's throat is mostly useless as a target for your hands but his forelegs are great targets. Dogs legs do not flex sideways very well. Grabbing a foreleg in each hand and playing wishbone with them should discourage a dog real fast. Even though dogs have strong biting jaws the roof of a dogs mouth is very sensitive and if you drive your thumbnail into the palate it prevents a dog from biting down hard. One dog, other than a pit, or maybe rotweiler or similar is not as much of a threat as it seems. With a knife you should be certainly more than a match for most dogs.
for real, i would never trust a dog i dont know and havent been "introduced" to by the owner