The only negative with O1 is that it is a hypereutectoid steel (carbon >0.8%), which means that to get the most out of it, you need to be able to soak it at a stable temperature of 800-820 deg C for 10-30 minutes to get all the carbon into solution before quenching. For a beginner, this can prove to be difficult, and you run the risk of de-carbing the steel, which will result in a poor hardness.
This is why for beginners, 1084 is ideal as it is a eutectoid steel (carbon ~0.8%), so you heat it up until it becomes non-magnetic and then quench. Because 1084 is so simple to heat treat well, its performance will exceed that of O1 with an average heat treat achieved without a temperature controlled furnace and de-carb paste. Plus, 1084 or 1075 are way cheaper to purchase than O1.
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