"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]
"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.