Best definition
procrastinating to a large extent. Often before exams and such.

Dude, I gotta stop waisting and start hitting the books.
waisting: define #2
To waste time without adding to your waist!!
Nadia: I’m just here waisting time

Tom: waisting? wtf?

Nadia: I’m WASTING time without adding to my WAIST!!
waisting: define #3
A word used so grammar Nazis can think their right, but it’s actually a red herring.

Though spelled differently than the misspelling of “wasting” it means exactly the same thing

Person A:”I’m terribly afraid of waisting my life away”

Person B:”well than you certainly don’t want to be HIPpy”

Person A:”well if this is a remark on my spelling, you sir are wrong” *posts link*