Absolutely not.
GIF has a long trail of patent problems. GIF is an very old format (1987). It was made by CompuServe, and it became popular because it had better compression (smaller size) than other formats at that time, it used the LZW compression algorithm. And UniSys owned a patent on the LZW format so they decided it was a good idea to start threating everyone with lawsuit and try milk money and get every software that uses GIF to pay them royalties. Luckily the patent has finaly expired (was just recently some year(s) ago).
Software patents are very evil and a great threat. It allows huge companies to take out patent on a huge amount of stuff, often very trivial stuff (like having emoticons on a forum or a IM) and then prevent the smaller people from developing competive or similiar products due to "patent infrigment".
See
http://www.nosoftwarepatents.com/en/m/ev50/index.htmlAnd GIF and JPEG was the two big formats used on the web.
PNG was designed to be a free, GIF killer. It is a much better format. GIF only can have 256 colors, but PNG can have 16,7 million colors. PNG is a free file format and a open standard. PNG supports not only transparency but also alpha-transparency in contrast to GIF which only support normal transparency. PNG uses better compression.