ROSAT observations of the black hole candidate V404 Cygni in quiescence

V404 Cyg was detected with the ROSAT PSPC in a 16 ks observation 1265 days after the 1989 May outburst. This is the first unambiguous detection of a soft X-ray transient or X-ray nova black hole candidate in quiescence. The observed X-ray spectrum is extremely soft and can be described equally well by either a blackbody, power-law, or a thermal bremsstrahlung continuum. The best-fit blackbody spectrum is characterized by a temperature of 0.2 keV. A significant amount of absorption, both along the line of sight and intrinsic to the V404 Cyg system, is required to understand the observations. The 0.2-2.4 keV light curve of V404 Cyg exhibits substantial variability on timescales of less than a day. Assuming a distance of 3.5 kpc, the quiescent X-ray luminosity of V404 Cyg is 8 x 10(exp 33) ergs/s, nearly two orders of magnitude larger than the upper such as Cen X-4. The lack of a significant hard X-ray luminosity in quiescence, the presence of a large and cold neutral region in the accretion disk, and a low-mass accretion rate suggests that an accretion disk instability might account for the outburst of V404 Cyg.