Strange Corrosion

[Springerrr]

Pictured is my house water cut-off. For years, there has been corrosion on it. The sleeping bag below it shows no evidence of anything dripping on it. So, if the pipe is leaking, it is leaking so slowly that evaporation takes the water before it can form a drop. The extent of corrosion as not really changed.

Would you gentlemen consider this to be a stable aspect of my pipe? Is it something that needs to be seen to?

Thank you for your time!!

 

[Geofd]

that corrosion/leak is coming from the brass nut that goes around the stem it looks like someone has tried to fix that before there are little (strings)sticking out that's wicking
I cant see the other end of the valve opposite the handle I think its a compression valve but I cant see it it could be repacked but I could also be replace with a newer style valve

 

[Springerrr]

Thank you for your reply! Is there any significant risk of the pipe failing?

 

[Geofd]

the valve is whats failing....I have seen much worse I would change it only because the more you use it the more its gonna leak