Trifluoromethanesulfonic acid reacts at 240 K with bis[bis(diisopropylamino)phosphino]diazomethane 1, affording the corresponding cationic (phosphino)(P-hydrogenophosphonio)diazomethane derivative 2, which eliminates dinitrogen above 250 K, leading to (phosphino)(phosphonio)carbene 3 isolated in 76% yield (mp 88 degrees C). Bis(diisopropylamino)phosphenium salt 5a adds at 240 K to P-chlorodiazomethylenephosphorane 4 giving (phosphino)(P-chlorophosphonio)diazo derivative 6a, which leads, after N-2 elimination, to the corresponding carbene 7a. Addition of potassium tert-butoxide to 3 gives rise to the transient diphosphinocarbene 8, which rearranges into phosphaalkene 9. Sodium tetrafluoroborate, tert-butyllithium, and tributyltin hydride react with 3 to afford P-fluoro-P’-hydrogenocarbodiphosphorane 10, P,P’-dihydrogenocarbodiphosphorane 12, and stannyl-substituted methylene salt 15, respectively. tert-Butyl isocyanide reacts with phosphoniocarbene 3 giving heterocycle 19, whereas with carbene 7 phosphonioketeneimine 18 and bis(diisopropylamino)phosphinonitrile are obtained.