We present models of the soft X-ray transients, A0620-00, V404 Cyg, an
d X-ray Nova Mus 1991, in quiescence. In each source, we postulate tha
t there is an outer region, extending outward from about 3000 Schwarzs
child radii, where the accretion flow is in the form of a standard thi
n disk. The outer disk produces most of the radiation we observe in th
e infrared, optical, and UV bands. We propose that the disk undergoes
an instability at its inner edge, perhaps by the mechanism described r
ecently by Meyer & Meyer-Hofmeister (1994) for cataclysmic variables.
The accreting gas is thereby converted into a hot corona which flows i
nto the black hole as a nearly virial two-temperature flow. We describ
e the hot inner flow by means of a recently discovered stable solution
of optically thin advection-dominated accretion. In this flow, most o
f the thermal energy released by viscous dissipation is advected into
the black hole and only a small fraction, similar to 10-(4)-10(-3), of
the energy is radiated. The radiation is in the form of Comptonized s
ynchrotron and bremsstrahlung emission and has a broad spectrum extend
ing from optical to soft gamma-rays. The models we present are consist
ent with all the available data in the three sources. In particular, t
he X-ray emission from the hot inner flow fits the observed flux and s
pectral index of A0620-00. We derive a mass accretion fate of similar
to 10(-11) M(.) yr(-1) in A0620-00 and Nova Mus, and similar to few ti
mes 10(-10) M(.) yr(-1) in V404 Cyg. The best fit to the data is obtai
ned for a viscosity parameter alpha similar to 0.1-0.3 in the hot flow
. The models predict that all three sources must have substantial flux
in hard X-rays and soft gamma-rays. This prediction is testable in th
e case of V404 Cyg with current instruments. A necessary feature of ou
r proposal is that most of the viscous energy released in the accretio
n is advected into the black hole without being radiated. The success
of the models in fitting the observations therefore indicates that the
accreting stars have event horizons and therefore confirms the black
hole nature of these stars.