Can we put this one to bed.
Targeted strikes against Hamas commanders in Gaza, assassinations of the leaders in Qatar and Iran, and a grown up play towards US/ Iran reconciliation and Arab state/ Israel reconciliation to cut off funding. Oh, and a diplomatic solution to the question of a Palestinian state. You want to make Hamas less effective? Get rid of their leadership and cut off their funding.
(And while I am here, Israel should secure its riskiest borders rather than deploy forces to the West Bank. I still can't believe Hamas could do what they did.)
Strangle Hamas over a number of years instead of an insane attempt to "wipe them out" or (possibly) ethnically cleanse Gaza and make the Palestinians there someone else's problem.
There is always more than one course of action available, but the course chosen says the most about the people who chose it and what their objectives are.