GCC -O2 causes segfaults unless compiled without optimizations, no system may be ran except the default with -kvm-enabled I had to modify config-host.mak and remove -O2 from CFLAGS to be able to work without kvm. GCC 4.4.4 qemu-0.14.1 ***NOTE: this has been an issue for several versions. Sorry, that there were no reactions to this ticket when you've opened it. Since both, GCC 4.4 and QEMU 0.14 are quite outdated nowadays, and AFAIK nobody complains about this issue with newer versions anymore, I think we can close this bug nowadays. If you still have this problem with the latest version of QEMU, please feel free to open this ticket again.