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Here’s my take on gif or jif..

I believe it should be pronounced as jif. Not only because of the hard and soft G rule. But also, simply because GIF is an abbreviation. Which means every letter is to be announced by its name; G = jee, I = aai, and F = eff. together it should be jiff. As opposed to, for example, Git. Which is a noun. Hence pronounced git.

That is the gist of it I think.