I know it has already been reported but have you ever searched for information on this error and I can't find solution. Java(TM) Platform SE binary No working.

---- Minecraft Crash Report ----
// Sorry :(

Time: 22/05/15 20:28
Description: Updating screen events

java.lang.IllegalStateException: failed to create a child event loop
	at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:68)
	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 ll$1.a(SourceFile:44)
	at ll$1.b(SourceFile:41)
	at no.c(SourceFile:10)
	at ll.a(SourceFile:121)
	at ave.a(SourceFile:1941)
	at axb.a(SourceFile:210)
	at axu.a(SourceFile:350)
	at axb.a(SourceFile:350)
	at axu.k(SourceFile:413)
	at axu.p(SourceFile:390)
	at ave.s(SourceFile:1497)
	at ave.av(SourceFile:888)
	at ave.a(SourceFile:325)
	at net.minecraft.client.main.Main.main(SourceFile:124)
Caused by: io.netty.channel.ChannelException: failed to open a new selector
	at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:128)
	at io.netty.channel.nio.NioEventLoop.<init>(NioEventLoop.java:120)
	at io.netty.channel.nio.NioEventLoopGroup.newChild(NioEventLoopGroup.java:87)
	at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:64)
	... 17 more
Caused by: java.io.IOException: Unable to establish loopback connection
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:101)
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:68)
	at java.security.AccessController.doPrivileged(Native Method)
	at sun.nio.ch.PipeImpl.<init>(PipeImpl.java:170)
	at sun.nio.ch.SelectorProviderImpl.openPipe(SelectorProviderImpl.java:50)
	at java.nio.channels.Pipe.open(Pipe.java:155)
	at sun.nio.ch.WindowsSelectorImpl.<init>(WindowsSelectorImpl.java:127)
	at sun.nio.ch.WindowsSelectorProvider.openSelector(WindowsSelectorProvider.java:44)
	at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:126)
	... 20 more
Caused by: java.net.ConnectException: Connection timed out: connect
	at sun.nio.ch.Net.connect0(Native Method)
	at sun.nio.ch.Net.connect(Net.java:457)
	at sun.nio.ch.Net.connect(Net.java:449)
	at sun.nio.ch.SocketChannelImpl.connect(SocketChannelImpl.java:647)
	at java.nio.channels.SocketChannel.open(SocketChannel.java:189)
	at sun.nio.ch.PipeImpl$Initializer$LoopbackConnector.run(PipeImpl.java:130)
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:83)
	... 28 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:68)
	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 ll$1.a(SourceFile:44)
	at ll$1.b(SourceFile:41)
	at no.c(SourceFile:10)
	at ll.a(SourceFile:121)
	at ave.a(SourceFile:1941)
	at axb.a(SourceFile:210)
	at axu.a(SourceFile:350)
	at axb.a(SourceFile:350)
	at axu.k(SourceFile:413)
	at axu.p(SourceFile:390)

-- Affected screen --
Details:
	Screen name: aya
Stacktrace:
	at ave.s(SourceFile:1497)
	at ave.av(SourceFile:888)
	at ave.a(SourceFile:325)
	at net.minecraft.client.main.Main.main(SourceFile:124)

-- System Details --
Details:
	Minecraft Version: 1.8.5
	Operating System: Windows 8.1 (amd64) version 6.3
	CPU: 4x Intel(R) Core(TM) i3-2328M CPU @ 2.20GHz
	Java Version: 1.8.0_25, Oracle Corporation
	Java VM Version: Java HotSpot(TM) 64-Bit Server VM (mixed mode), Oracle Corporation
	Memory: 137989824 bytes (131 MB) / 267264000 bytes (254 MB) up to 523501568 bytes (499 MB)
	JVM Flags: 7 total; -XX:HeapDumpPath=MojangTricksIntelDriversForPerformance_javaw.exe_minecraft.exe.heapdump -Xmx1G -XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:-UseAdaptiveSizePolicy -Xmn128M -Xmx512M
	IntCache: cache: 0, tcache: 0, allocated: 0, tallocated: 0
	Launched Version: 1.8.5
	LWJGL: 2.9.4
	OpenGL: Intel(R) HD Graphics 3000 GL version 3.1.0 - Build 9.17.10.3347, Intel
	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)