Imgur has just released a brand new feature to make GIFs better than they ever have before. Video to GIF is a tool that allows you to quickly paste any video link, easily select a clip from that video, and turn it into a very high-quality GIF, called a GIFV.
GIFVs are extremely high quality GIFs, so much so that it feels like an actual video embed when viewed on Imgur or any other site. To create a GIF, just paste a video link from YouTube, Vimeo, Vine, or any other video-sharing website into Imgur's Video to GIF page.
After a few seconds, Imgur will provide a simple tool for you to use to select a clip no more than 15 seconds long from the video, as well as add overlayed text.
Once your GIF is all set to go, select "Create GIF" at the bottom of the tool. Depending on the length of the GIF, it can take anywhere from a few seconds to several minutes.
Imgur will then provide a ".gifv" file for any GIFs larger than 10MB in size and regular ".gif" files for everything else. GIFVs are not as easily shareable or embeddable as regular GIFs, but they sure look a hell lot better. You can check out the GIFV I created here.
I did encounter some issues with the conversion process a couple of times, but that's to be expected with any new feature, so time should iron out any issues you have.