I agree with all that has been said, but just wanted to add one thing.
Never use a piece of scrap steel for a knife until it has been tested to see if it will harden. A few years back, I forged a blade from a coil spring. I went all out on it, forged in fullers, integral bolster, distal taper... Then the blasted thing would not harden, at least not to my standards, even when quenched in water. I learned it the hard way, and I'm trying to save you from the same fate.
A good quick test... forge out a bar of the stuff, about 1/4" to 3/8" square and around 6" long. File a groove around the bar somewhere near the middle. Heat to non-magnetic, then quench. Take it over to your vise, wrap it with a shop rag, clamp it down. Wear eye and/or face protection. Now, use pliers or visegrips to bend/break it. It should, if it is good steel, break like a piece of glass. If it does not break, but bends, don't use it for a blade.
O-1 is an excellent steel for smaller blades that need edge-holding over toughness. It is a pain to forge, it is very resistant to the hammer compared to 5160. It can be difficult to get a good differential hardening on O-1 because it has some tendency to air-harden, but it is possible.