Long-standing
Part of speech: adjective
Definition: Describing something that has existed for a long time. Describing something that has been done for so long that it has become convention.
Traditional
Part of speech: adjective
Definition: Of or pertaining to tradition; derived from tradition; communicated from ancestors to descendants by word only; transmitted from age to age without writing; as, traditional opinions; traditional customs; traditional expositions of the Scriptures.Observant of tradition; attached to old customs; old-fashioned.In lieu of the name of the composer of a piece of music, whose real name is lost in the mists of time.
Example sentence: Just like the Internet disrupted the publishing industry, we're going to see Bitcoin micropayments creating some very interesting opportunities for pay-as-you-go, pay-based-on-time online businesses and, frankly, some risks as well to the traditional business model as to how things get sold online.