Put the summary of the bug you're having here

What I expected to happen was...:
From the last time it did quite a similar bug. But this time it managed to get further, it started actually build terrain.

What actually happened was...:
Last time there was only the background and it froze and crashed. The way how similar it was, was it froze and crashed the same way as before. I have checked firewalls, antivirus, latest java and deleting .minecraft/uninstalling the game but nothing seems to work. I read forum and someone said it may be because of AMD video card. But it was not confirmed.

Steps to Reproduce:
1. Open Minecraft without changing any settings, except putting lower graphic settings
2. Create a new world.

Here's the code:
---- Minecraft Crash Report ----
// Don't be sad. I'll do better next time, I promise!

Time: 5.9.2014 21:34
Description: Updating screen events

java.lang.IllegalStateException: failed to create a child event loop
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:61)
at io.netty.channel.MultithreadEventLoopGroup.<init>(MultithreadEventLoopGroup.java:49)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:61)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:52)
at rd.a(SourceFile:40)
at rd.b(SourceFile:37)
at up.c(SourceFile:10)
at rc.a(SourceFile:104)
at bsu.a(SourceFile:1914)
at bxg.i(SourceFile:172)
at bxg.a(SourceFile:135)
at bxf.a(SourceFile:342)
at bxf.k(SourceFile:405)
at bxg.k(SourceFile:81)
at bxf.p(SourceFile:382)
at bsu.r(SourceFile:1473)
at bsu.as(SourceFile:877)
at bsu.a(SourceFile:314)
at net.minecraft.client.main.Main.main(SourceFile:120)
Caused by: io.netty.channel.ChannelException: failed to open a new selector
at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:128)
at io.netty.channel.nio.NioEventLoop.<init>(NioEventLoop.java:120)
at io.netty.channel.nio.NioEventLoopGroup.newChild(NioEventLoopGroup.java:87)
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:57)
... 18 more
Caused by: java.io.IOException: Unable to establish loopback connection
at sun.nio.ch.PipeImpl$Initializer.run(Unknown Source)
at sun.nio.ch.PipeImpl$Initializer.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at sun.nio.ch.PipeImpl.<init>(Unknown Source)
at sun.nio.ch.SelectorProviderImpl.openPipe(Unknown Source)
at java.nio.channels.Pipe.open(Unknown Source)
at sun.nio.ch.WindowsSelectorImpl.<init>(Unknown Source)
at sun.nio.ch.WindowsSelectorProvider.openSelector(Unknown Source)
at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:126)
... 21 more
Caused by: java.net.ConnectException: Connection timed out: connect
at sun.nio.ch.Net.connect0(Native Method)
at sun.nio.ch.Net.connect(Unknown Source)
at sun.nio.ch.Net.connect(Unknown Source)
at sun.nio.ch.SocketChannelImpl.connect(Unknown Source)
at java.nio.channels.SocketChannel.open(Unknown Source)
at sun.nio.ch.PipeImpl$Initializer$LoopbackConnector.run(Unknown Source)
... 30 more

A detailed walkthrough of the error, its code path and all known details is as follows:
---------------------------------------------------------------------------------------

– Head –
Stacktrace:
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:61)
at io.netty.channel.MultithreadEventLoopGroup.<init>(MultithreadEventLoopGroup.java:49)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:61)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:52)
at rd.a(SourceFile:40)
at rd.b(SourceFile:37)
at up.c(SourceFile:10)
at rc.a(SourceFile:104)
at bsu.a(SourceFile:1914)
at bxg.i(SourceFile:172)
at bxg.a(SourceFile:135)
at bxf.a(SourceFile:342)
at bxf.k(SourceFile:405)
at bxg.k(SourceFile:81)
at bxf.p(SourceFile:382)

– Affected screen –
Details:
Screen name: bxq
Stacktrace:
at bsu.r(SourceFile:1473)
at bsu.as(SourceFile:877)
at bsu.a(SourceFile:314)
at net.minecraft.client.main.Main.main(SourceFile:120)

– System Details –
Details:
Minecraft Version: 1.8
Operating System: Windows 8.1 (amd64) version 6.3
Java Version: 1.8.0_05, Oracle Corporation
Java VM Version: Java HotSpot(TM) 64-Bit Server VM (mixed mode), Oracle Corporation
Memory: 83069888 bytes (79 MB) / 285900800 bytes (272 MB) up to 1060372480 bytes (1011 MB)
JVM Flags: 6 total; -XX:HeapDumpPath=MojangTricksIntelDriversForPerformance_javaw.exe_minecraft.exe.heapdump -Xmx1G -XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:-UseAdaptiveSizePolicy -Xmn128M
IntCache: cache: 0, tcache: 0, allocated: 13, tallocated: 95
Launched Version: 1.8
LWJGL: 2.9.1
OpenGL: AMD Radeon HD 8350G GL version 4.3.12618 Compatibility Profile Context 13.251.0.0, ATI Technologies Inc.
GL Caps: Using GL 1.3 multitexturing.
Using GL 1.3 texture combiners.
Using framebuffer objects because OpenGL 3.0 is supported and separate blending is supported.
Shaders are available because OpenGL 2.1 is supported.
VBOs are available because OpenGL 1.5 is supported.

Using VBOs: No
Is Modded: Probably not. Jar signature remains and client brand is untouched.
Type: Client (map_client.txt)
Resource Packs: []
Current Language: English (US)
Profiler Position: N/A (disabled)