Gyp in the meanings “to swindle” or “a person who swindles” is sometimes perceived as insulting to or by Gypsies, since it stereotypes them as swindlers. However, gyp has apparently never been used as a deliberate ethnic slur, and many people are unaware that it is derived from Gypsy.
(also gyp artist or gypster) A swindler; cheater; crook: denunciations of punks, tinhorns, and gyps(1889+)
: the victim of any such gyp(1914+)
A cabdriver who does not start the meter, hence can pocket the fare (1930+ Cabdrivers)
To cheat; swindle; con: We got gypped out of it all in two days
The Dictionary of American Slang, Fourth Edition by Barbara Ann Kipfer, PhD. and Robert L. Chapman, Ph.D. Copyright (C) 2007 by HarperCollins Publishers. Cite This Source
gip in Technology
1. General Interpretive Programme. A 1956 interpreted language for the English Electric DEUCE, with array operations and an extensive library of numerical methods. ["Interpretive and Brick Schemes, with Special Reference to Matrix Operations", English Electric COmpany, DEUCE News No. 10 (1956)]. (1994-11-02) 2. An erroneous singular of GIPS.