When you need to pee but you're too lazy to get up from your computer or your couch so you hold it in for later until you feel like you're about to pee in your pants if you don't.
Emily: I need to pee.
Connie: Then go pee.
Emily: I'm too lazy to get up and go to the bathroom right now, I'll do it later.
Connie: Peecrastination is bad for your bladder, you know.
Time wasting with intent to avoid necessary action. Typically verbalised by those with access to success yet a predisposition towards failure i.e. work-shy students approaching coursework deadlines.
"Are you doing that coursework for tomorrow?"
"No, I decided to put a definition of procrastination on Urban Dictionary instead."