If you wire the tone control from the hot of the pickup (top of the volume pot in a P bass) to ground, then the volume and tone controls are more logical in what they do - the tone control is working against pretty much the same impedance, so a "half" what it does to the sound is consistent, no matter where the volume control is set. The volume control on a P bass does change the tone some, but once you get off "full", it's fairly consistent as to what it does. If you wire the tone control from the wiper of that pot (it's output) to ground, what the tone control does and what the volume control do interact with each other more (and not in a good way) - the tone control act is different depending on where the volume control is, and vice versa.
Neither connection will cause a nuclear meltdown or anything, so if you want to try it, go ahead, but I think you'll realize why tone controls are usually wired a certain way.
Oh, and by the way, VVT circuits don't really work predictably like a P bass does - the volume controls are wired backwards, and what they do sonically is messy at best.