Below are the steps and pics:
YOUTUBE INSTRUCTIONAL VIDEO
1. Go to your local Radio Shack and purchase a pack of 100k ohm resistors, the colors should read Brown/Black/yellow/gold (see pic 1)
2. Take 2 of the resistors and twist them together
3. Take the third resistor and twist it onto the other 2 to make a straight line of 3 resistors
4. Bend the 3 resistors into a teardrop shape (see pic 2)
5. Set down a piece of tape and place the tips as close together as possible without touching while leaving about a quarter inch of each tip exposed, this will take some patience and adjusting (see pic 3) *tip: try putting a piece of tape or two in between the tips so that they do not touch each other*
6. Once the tips are set correctly tape both sides of the tear drop so no metal is left exposed. If your skin touches the metal it reduces the resistance of the jig and will not work.
7. Remove external sd, sim card and battery. Then replace battery and DO NOT touch the power button.
8. Carefully touch the two tips of the jig to the two copper plates of the micro usb slot closest to the headphone jack for about 3 seconds (this will also take some time and patience) *tip: use the other side of the micro usb port to brace against to hold the jig in place*
9. The phone should now go directly into download mode
9a. If your phone build number is BELOW 1010 continue following this guide.
9b. If your phone build number is 1010 or ABOVE follow this guide to flash back to stock.
10. Open odin3 on your computer
11. Plug usb into your phone, after odin says "added" click start to flash the stock rom.
This fix as opposed to the others only costs $.99 and uses ONLY 3 resistors, NO CUTTING OR SOLDERING. Other fixes suggest hacking up your micro USB cable to use as a connection but i found that to be unnecessary.
As snapplefish has pointed out the desired resistance for this to work is 301K ohms, not 300K. HOWEVER, I and almost everyone else here has been able to only use the 3-100K ohm resistors. IF you are having trouble getting this to work, AND you have made sure you are using 100K ohm resistors, try measuring the resistance of your jig by using a multimeter. IF your resistance is below 298 or so try adding a 1K ohm resistor to your jig and remeasure the resistance of your jig.
Thanks to everyone who came up with the 301k ohm resistor method, saved me from a $500 paperwieght!
If this has helped you please give me a thanks
Cheers and happy flashing,