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The Collaborative International Dictionary of English v.0.48:

dissipate \dis"si*pate\ (d[i^]s"s[i^]*p[=a]t), v. t. [imp. & p. p. Dissipated; p. pr. & vb. n. Dissipating.] [L. dissipatus, p. p. of dissipare; dis- + an obsolete verb sipare, supare. to throw.] 1. To scatter completely; to disperse and cause to disappear; -- used esp. of the dispersion of things that can never again be collected or restored. [1913 Webster] Dissipated those foggy mists of error. --Selden. [1913 Webster] I soon dissipated his fears. --Cook. [1913 Webster] The extreme tendency of civilization is to dissipate all intellectual energy. --Hazlitt. [1913 Webster] 2. To destroy by wasteful extravagance or lavish use; to squander. [1913 Webster] The vast wealth . . . was in three years dissipated. --Bp. Burnet. Syn: To disperse; scatter; dispel; spend; squander; waste; consume; lavish. [1913 Webster]