Joe Budden has worked with Nino Bless before, most notably on the track Slaughterhouse.

Joe Budden released a response to the song… Lost Control (Freestyle)

http://www.youtube.com/watch?v=xhDWKHB2wmY

Also both Joe and Nino were not offended by Kendrick' track, both mention it’s for “competition”

Born and raised in Brooklyn for 24 years of my life, I can tell you I didn’t take offense to it at all…… With that verse, he was trying to raise the level of competition up and make rappers step their shit up and it’s obviously done that.
- Nino Bless

This ain’t to Kendrick Lamar, the nigga Kendrick got bars
I heard his shit and wasn’t offended at all
- Joe Budden

Great double entendre by Nino here;

Firstly, Funkmaster Flex is a rapper and produce, but also a DJ on Hot 97 which he is prolly most known for. Hot 97 is a radio station that primarily plays mainstream hit songs… This is where we get into the double entendre;

1. This song is figuratively speaking, the bomb… he dropped a lot of greats bars but because it doesn’t fit the mainstream appeal (money, cars, women, etc) and Nino is not a mainstream artist… this is something he will not play on this radio
2. Funkmaster Flex is known to use a bomb sound effect frequently… don’t have to watch too far into this video to see what he saying;

http://www.youtube.com/watch?v=G9xM_bjAGHA

T.D.E., AKA Top Dawg Entertainment is the record label Kendrick Lamar is on… and the group he is in, Black Hippy which also has artists; Jay Rock, Ab-Soul and Schoolboy Q

Nino even said in reference to Kendrick;

Born and raised in Brooklyn for 24 years of my life, I can tell you I didn’t take offense to it at all. He’s the King of N.Y. Hell, he’s the King Of Hip Hop

So yeah, obviously Nino think’s they’re dope…

Corresponding to the line above;

One of Drake‘ lines in “5 AM In Toronto” song is;

That’s why every song sound like Drake featuring Drake

So prolly a shot at Drake and many other artists, he only hears fake garbage in their lyrics. That’s why he is Not Featuring 2 Chainz

Tequila is a Mexican type of liqour, and it’s what Cassidy is sippin' on.

The second case he brings to life as to why he has “chip on his shoulder” is that a lot of loud gun shot gangs woke him up as a child – lack of sleep, and violence.

http://www.youtube.com/watch?v=_9PNM-nnhn4

The idiom “chip on my shoulder” means you get aggravated easily… generally there is a lot of reasons why someone developed this attitude. Sha, does not know why he has it… but he starts laying down ideas in the first verse as to why he might have it

Of course he doesn’t mean it in this way;

Going through a road bump is a figure of speech that means there was an disruption on your “life journey” that made you slow down. A hindrance in some quest or extended task. Like when driving through a speed bump in a car… slow down before you going over the bump. This is a reference to his time in prison (corresponds to the line above)

This place refers to the streets of Newark where is was raised… he is simply saying that he loves the hood like how he loves his Mother, which is a lot.