You can almost feel the money changing hands.

For decades your obnoxious uncle with the gold tooth, the arrogant office IT guy who streams illegal movies, and the cheeky neighbor whose dog pees on your lawn have all shoved out their hands and said, “How much you wanna bet? Huh? It’s pronounced ‘gif’– you know, like ‘gift’ but without the ‘t’.” Each and every time you declined the invitation. You refused to shake hands, even though you were 80% confident that they were wrong. Well, now we all know for sure.

Steve Wilhite, who unveiled the Graphics Interchange Format (GIF) in 1987 while working for CompuServe, has ended the debate. GIF is pronounced “Jif”—yes, like the peanut butter. Mr. Wilhite made the announcement while accepting a lifetime achievement award for his controversial creation this week at the Webby Awards.

And congratulaions Jif Peanut Butter on a public relations coup.