It's hard to believe that this waterfall almost disappeared due to the desire for hydroelectricity by various interests. In some fortuitous bit of misfortune (if you're the investor) and lack of funds, attempts were unsuccessful and the falls was eventually sold to the state of Iceland. Despite further interest to utilize the river by the state, it was eventually conserved.

A more romantic story depicted the daughter (named Sigríður Tómasdottir) of the landowner who was about to sell his land (including the falls) threatened to throw herself into the falls if the land was sold. As a result, the father pulled out of the deal and the falls was made a reserve and the rest was history. It's said that this isn't true, but nonetheless there is a memorial at the falls commemorating Sigríður Tómasdottir.

From Reykjavik, drive about 54km east along the Ring Road to the turnoff with route 35. Follow route 35 for over another 70km or so to the waterfall, passing by Geysir (another Golden Circle main attraction) along the way. There are actually two car parks for the falls (a lower one off route 334 and a much larger upper one next to a visitor centre off route 35). Although it's a little bit of a longer walk from the larger car park to get close to the falls, I personally don't think it matters much where you park unless you're elderly or disabled in which case the lower car park would be the desired option.