Knob and tube wire can have asbestos in it it. It will usually be white or brown. I have taken it to the yard as is and had no problem. Asbestos is only dangerous if it can be made into a dust which is then breathed in. Just take it in as is b/c I personally wouldn't chance it ever. The first time I got the stuff I stripped it and then burned the white fibers...except it didn't burn..... only then did I realized it was asbestos and have never stripped them again.
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