Etymology
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piss (v.)

"to urinate, discharge the fluid secreted by the kidneys and stored in the urinary bladder," c. 1300, pissen, from Old French pissier "urinate" (12c.), from Vulgar Latin *pissiare, of imitative origin. To piss away (money, etc.) is from 1948. Related: Pissed; pissing. Pissing while (1550s) once meant "a short time."

He shall not piss my money against the wall; he shall not have my money to spend in liquor. [Grose, "Classical Dictionary of the Vulgar Tongue," 3rd edition, 1796]

To piss money on the walls "throw money around recklessly" is attested from 1540s.

He who once a good name gets,
May piss a bed, and say he sweats.
["Dictionary of Buckish Slang, University Wit and Pickpocket Eloquence," London, 1811] 

piss (n.)

"urine," late 14c., from piss (v.). As a pure intensifier (piss-poor, piss-ugly, etc.) it dates from 1940, popularized in World War II. Piss and vinegar "vim, energy" is attested from 1942. Piss-prophet "one who diagnoses diseases by inspection of urine" is attested from 1620s. Piss proud "erect upon awakening" is attested from 1796.

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Definitions of piss
1
piss (n.)
liquid excretory product;
Synonyms: urine / pee / piddle / weewee / water
piss (n.)
informal terms for urination;
Synonyms: peeing / pee / pissing
2
piss (v.)
eliminate urine;
Synonyms: make / urinate / piddle / puddle / micturate / pee / pee-pee / make water / relieve oneself / take a leak / spend a penny / wee / wee-wee / pass water
From wordnet.princeton.edu