This method is for those who couldn't activate their vitas using epsp 2.0, in which the app keeps telling you to press x to reboot, but by following these 10 simple steps below, you should be able to activate your vita.
After many trials and errors, I found out what is going wrong with the epsp 2.0 activator.

We can start from scratch, it is best to do a system format first, assuming you have an existing psn account, and link/sign up the psn account in the initial setup.

Note that every time you restart your vita, you have to enable henkaku, also note that there is no need to use manual DNS or netcheck bypass, just make sure you have a good wifi connection.

Step 1
Create this folder tm0\npdrm using vita shell 1.51

Step 2
Use this dummy act.dat file, unrar and extract the dummy file.
http://www.mediafire.com/?e66w9c953abugq2

Step 3
Put the dummy file in tm0\npdrm

Step 4
Launch epsp 2.0, press x to create the game bubble.

Step 5
After your vita restarts, it should install the bubble, after that, go back to the tm0\npdrm folder and delete the dummy act.dat.

Step 6
Relaunch epsp 2.0, press x after it tells you to activate your vita.(this step is usually where a lot of people got looped on)

Step 7
Relaunch epsp 2.0, this time it should tell you to activate your vita in the settings menu, press x and it'll then brings you directly to the settings.

Step 8
Once in the settings, go to psn and it will tell you to update, just hit cancel and it'll bring you back to the psn menu.

Step 9
Go to activate system, choose game, and then activate.

Step 10
Your vita is now activated.

To sum it up , I think there's a bug in epsp 2.0 in it that you'll be stuck forever in a loop if there is no game bubble created so we create a dummy act.dat to make epsp think that we are activated so it'll let the game bubble to be created, then we can break the loop and activate our vitas.

Many thanks to CelesteBlue for the activation ability.

If you intend on using epsp's game bubble to launch adrenaline,
Make sure your config.txt file in ux0 tai looks like this:

Code:

*NPEZ00104
vs0:sys/external/libpgf.suprx
ux0:pspemu/adrenaline/adrenaline.suprx