Very Uncommon Question (long)

Hi, let me start out by saying I smoke in my basement while nobody is home. I don't do it right there in the main basement room though, I go a bit deeper. When you enter the basement through the only staircase, you go across the room (estimated 40 feet long) until you approach two doors. When you go in one door, it is a medium sized room. Within this room there is another door leading to a closet.
Once inside this closet, you reach yet another door which leads to a small heating/air/plumbing room or w/e (it has a bunch of pipes up above and large machines). This room is about as big as the closet, which is estimated 6ftx5ft. Since it's not an actual room, about 2/3's of the wall starting from the ground is all concrete. The other 1/3 is yellow insulation (i believe that's what it is called but I'm not sure), which meets the ceiling. On the opposite side of the door, where the concrete meets the insulation on the wall, there is a very small vent about 1ft wide x 5in tall and it leads directly outside.
This vent is quite high up, and you actually need a stool to get about eye-level with it. Right next to the vent on both sides as I stated before, are small panels of insulation. I hide all my utensils behind the flaps of the insulation (pipe, lighter, grinder & nugnug). I keep my pipe in a ziplock baggie, and everything else besides the grinder in a jar, because I was told that insulation can be harmful to skin or around your face, so I wipe my hands off every time I touch it.
My first question (the easy question) is how harmful is this stuff exactly? I mean I heard that you can breath those tiny fibers in your lungs on accident, and have them cut up your tissues etc. Like I said, it might not even be called insulation. All i know is that it's fluffy, yellow, and has tiny little fibers that rub off of it. And is it safe to continue storing my items there the way that they are. Here's the second part of the question (this is a bit trickier).
As you might have already inferred, I use that vent to exhale when I smoke. I have found it to be fairly useful, as most of the time it actually acts as a vacuum, and sucks out any extra smoke on it's own. But sometimes, instead of the smoke being sucked out, it actually appears as it is being kept in the room, even when I hold the pipe right next to the vent. That just got me thinking, that what if that is how my house recycles air? What if every time air is being pulled through that vent, the air goes from that room, to one of those machines (maybe with like a built in fan that attracts air or something) and is processed throughout my entire house. In other words, is all of that smoke being pulled in with the rest of the air, and being distributed all throughout the house? Basically filling the house with the scent of smoke? I mean that vent is there for a reason, so what is it? If you have any other questions to make my scenario a bit clearer please ask. Thanks

 

sorry, i noticed that just as i posted but i had to pick up my dog from the vet

 

yeah, i think i might, thanks

 

when you say it makes you itchy, is that the only danger of touching it? I mean if i'm only briefly touching it with my fingers, then wipe my fingers off or wash them would i be alright? what are the potential dangers of having contact with this stuff?