An unstable inner disk in Cyg X-1 ?
  We present the first significant detection of relativistic smearing of the X-ray reflection spectrum from the putative accretion disk in the low/hard state of Cyg X--1. The ionization state, and amount of relativistic smearing are simultaneously constrained by the X-ray spectra, and we conclude that the disk is not strongly ionised, does not generally extend down to the last stable orbit at 3 Schwarzschild radii and covers rather less than half the sky as seen from the X-ray source. These results are consistent with a geometry where the optically thick disk truncates at a few tens of Schwarzschild radii, with the inner region occupied by the X-ray hot, optically thin(ish) plasma. Such a geometry is also inferred from previous studies of the reflected spectrum in Galactic Black Hole transient sources, and from detailed considerations of the overall continuum spectral shape, suggesting that there is some robust instability which disrupts the inner accretion disk in low/hard state Galactic Black Holes. 
Chris Done and Piotr T. Zycki