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What you have is A6, aka mild steel or weld steel. In short, worthless for knives. You can practice on it but if you should happen to make something nice you'll be kicking yourself for not using good steel. Good blade steel hardly costs any more than what you have.
O1 is great knife steel but you can't treat it with a torch and get anywhere near its potential. O1 costs more than 1080 or 1084 which is what you should be working on. See the Sticky thread at the top of this forum for a list of places where you might find 1084.
Next step would be to toss the torch and build a small heat treating forge. It isn't expensive and you'll get much better results than with a torch ...
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