That largely depends on the type and intended use of the knife as well as your budget. That being said, I started out as a kid with a carbon steel knife and that is a great starting point to learn about proper knife maintenance & sharpening because carbon steel demands it. Having that experience as a foundation will help you fully appreciate the characteristics of premium and super steels down the road. Just my 2 cents.
Out of what I have, CPM-M4. It holds an edge amazingly well, and is really tough, too. Corrosion isn't too much of a problem for me, so this steel works perfectly for my purposes. I would like to get a knife with M390, though...
honestly, I"m happy with some good S30V. I haven't tried any of the exotic steels, but S30V has always done the job for me so I don't really need them.
For a folder I'm not sure because all the folders I've owned with M390 and higher end steels like that have been so expensive that I never used them and ended up selling them. But Spyderco's S30V has been really good to me. Great rust resistance and keeps a working edge a long time.
As for fixed blades SR 101 all the way :thumbup: I'm just getting into heavily using INFI so maybe that will change but SR 101 really is an amazing steel. Edge retention is great is its actually pretty tough for such a high carbon steel.
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