With this being so close to the capital city of Iceland it is a quick stop for the tour busses which can make it quite busy, but with that being said it is a true spectacle. The falls are so powerful that when walking through the bottom parking lot (which is a fair ways away from the falls) you get a cold mist... and they are not even in site yet!
During the early 20th century, the land owners of Gullfoss (Tómas Tómasson and Halldór Halldórsso) leased the land to foreign investees who wanted to build a hydroelectric plant here. Their plans fell through due to a lack of funds. Later on, the waterfall was sold to the state of Iceland. At this time, there was more discussion about using the river to generate electricity.