1. Meaning, "to smoke crack" in present tense; 2. To refer to another's actions in an extreme manner (can be used in either negative or positive connotation).
Fred: Hey, how come Bill always manages to get a 50 killstreak on Modern Warfare 2?
Jim: Dude, I don't know. I think he's smoking crack.
OR
Jason: Hey, is Mark coming over to smoke some happy grass with us tonight?
Ted: No, he said he's staying home tonight and smoking crack instead.
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